Market Update October 2012
The global outlook returned mixed results last month, with the US continuing to show signs of growth, while China’s growth position weakened.
In Europe, although markets started to show signs of a slow recovery, the European Central Bank (ECB) knows there is still work to be done before market and consumer confidence returns. To further support the recovery, the ECB announced a number of initiatives designed to ease the financial pressures felt throughout the Eurozone.
In domestic news, the RBA announced an interest rate cut for the first time since June. This brings the official rate down 25 basis points to 3.25%.
As markets continue to remain uncertain in the short term, please remember to remain focused on your long-term goals.