April 2023 Insights

As the days are getting shorter, there’s definitely a bit of a nip in the air.

Share markets in Australia and overseas have rallied to end the month in a better position as the global banking system steadies itself and there are expectations of a tempering in rate rises. The ASX200 finished the month at about the same point it started after suffering a slump mid-month. In Australia, the gains have come largely from the mining sector and the strength of US markets.

Employment remains the economy’s good news story with the jobless rate still at a low 3.5% in February and job vacancies almost double what they were three years ago before the start of the pandemic.

Inflation is slowly coming down from its peak of 8.4% in December 22. The consumer price index (CPI) recorded a fall to 7.4% in January then 6.8% in February. The most significant contributors to rising prices remain housing, food and non-alcoholic beverages and fuel prices.

Buoyed by the CPI figures, the Australian dollar consolidated at near 67 cents against the US dollar after falls of 7% since February.

Falling residential property prices have caused a drop in household wealth, which decreased for the third consecutive quarter. Household wealth is now $14.4 trillion, as at the December quarter 2022, that’s 3% lower than a year ago.

More insights

Life insurance – the basics and things to consider

Life insurance – the basics and things to consider

Life insurance a crucial aspect of financial planning that can provide security and peace of mind for you and your loved ones. Life insurance serves as a safety net, ensuring that your family and dependents are financially protected in the event of your passing. Let's...

read more
April 2024 Insights

April 2024 Insights

It’s already April, and as we return to work after Easter, we hope you enjoyed a peaceful and relaxing holiday weekend. Expectations of interest rate cuts later this year in Australia and the United States fuelled activity in the markets last month. The S&P/ASX...

read more
March 2024 Insights

March 2024 Insights

After a summer of quite extreme weather in many places around Australia, we can hopefully look forward to the cooler, calmer weather that Autumn brings. While economic bright spots can be found in Australia right now, there are also some less than stellar results. On...

read more