- Australia’s S&P/ASX 200 Index had a strong month returning 6.9% led by Information Technology (+13.2%), Energy (+9.8%), and Materials (+8.9%). All sectors finished up during the month.
- The Federal Reserve raised interest rates to 0.50% as they look to tackle the highest level of inflation in 40 years.
- The war in Ukraine continued to aggravate stock market volatility and put pressure on energy supply and prices.
- The RBA kept the cash rate on hold at 0.1% and reiterated unpredictability over how persistent the pickup in Australia’s inflation on the back of recent developments in global energy markets and ongoing supply-side problems.
Read the full Market Update prepared by Lonsec here.