Stay up to date with what’s happened in the Australian economy and markets over the past month.
The economy came under renewed pressure in November as inflation accelerated.
Higher inflation and a stronger labour market strengthened the view that the Reserve Bank of Australia’s easing cycle may have ended and fuelled speculation of a rate hike.
The ASX200 finished the month down 3%, marking its biggest drop in eight months. Major banks led the losses due to valuation concerns and fading hopes of near-term policy easing.
Global shares rose over the last week of November as the US shares rebounded on the back of increased confidence that the Fed will cut rates next month.
The positive global lead also pulled up Australian shares although they were constrained by a further rise in local inflation leading to talk that the next move by the RBA may be a rate hike later next year.
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Integrity One Wealth Advisers Pty Ltd
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