As part of the 2021/22 Federal Budget, the Treasurer reiterated the importance of border reopenings. This will enable the Australian economy to benefit from tourist spending, and should lift migration levels.
There is a concern that it might not be possible to maintain strong economic growth without the arrival of highly-skilled immigrants.
Overall news flow remained supportive of risk assets including equities and credit and enabled most major share markets to make positive progress.
The presidential election in the US on 5 November could dominate headlines during October, before the next meeting of the Federal Reserve later that same week. Investors are already debating whether a further reduction in borrowing costs in the US could be announced following this meeting.
The global economy is being shaped by conflicting triggers. These include productivity-boosting technology innovations, geopolitical tensions and the strident efforts of central banks to bring inflation under control. We examine the economic outlook and discuss the implications for your retirement savings.
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