Markets subdued as 6 countries ponder interest rates…

1 year ago•By Jody Fewster

This week the Federal Reserve, Bank of England and the central banks of Japan, Norway, Sweden and Switzerland are all holding policy meetings to decide on interest rates.
Global oil prices have soared more than 20% in recent months to nearly $100 USD a barrel, amid supply constraints driven by OPEC production cuts.
The RBA minutes left the door open for a further rate hike if inflation is too strong. Petrol prices are up 26% over this year. Eek!
The S&P ASX-200 has been subdued ahead of rate calls (as mentioned). It’s down again today at 7,150 as I type. Iron ore is at $121.92 USD and the Aussie dollar is $.643.
The WA Chamber of Commerce and Industry is predicting WA economic growth to slow to 1.75% this financial year – from 3.5% in fiscal 2022 – on challenges in our largest trading partner China.
WA jobs market remains tight with 3.4% unemployment. Our strong population growth, limited number of houses for sale, and a rental vacancy rate of 0.8% are causing pressure on buyers.
Obviously, I’m a tad biased but the most exciting things happening in the next week here in WA are the 40th-anniversary celebrations of Australia II winning the America’s Cup in 1983. Below is a photo of my gorgeous husband, Damian at 21 years of age being the first non-American across the line in 132 years!!!.
The Maritime Museum has a great new exhibition if you are looking for something to do with the kids this school holidays and Australia II is there as beautiful as she was 4 decades ago.

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