- The global economic recovery continues, however growth is uneven across regions and there were signs
of a loss of momentum in Europe through the September quarter.
- US President Trump stepped up his trade rhetoric ahead of the presidential election with talk of a “decoupling” from the Chinese economy amid a widening trade deficit.
- China is on track to be the first country to exit the pandemic and is the only G20 country with a positive GDP result, recording 3.2% year-on‐year for the June quarter.
- The Reserve Bank of Australia kept rates on hold at 0.25% at its September meeting and extended the Term Funding Facility until the end of June 2021.
- From 28 September, Australia’s JobKeeper payments will fall from $1500 per fortnight to $1200, and $750 for those working less than 20 hours per week.
Read the full Market Update prepared by Lonsec here.