A more cautious Fed should provide some support for markets although more falls are possible into early next year before markets bottom and head higher as investors realise the US/global economy is not going into recession soon.
Read MoreThe US Federal Reserve has defied President Donald Trump and lifted its key interest rate for a 4th time this year – but suggested strongly that it might cut the number of increases next year to just two.
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Australia’s September quarter GDP has disappointed expectations by a long way, slowing sharply to just 0.3% from the June quarter (when it grew 0.9%), and well below expectations for a 0.6% rise.
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The Reserve Bank of Australia has once again kept its key interest rate unchanged at the record low of 1.5%.
Read MoreThe list of issues concerning the country’s top economic policymakers narrowed in 2017-18 to just three, two of which are hangovers from preceding years, according to comments by RBA Governor, Phillip Lowe.
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European QE is finally here – better late than never. Importantly, Mario Draghi has left the door open to “do whatever it takes” as far as quantum goes. Euro currency debasement will likely be a feature for several years to restore competitiveness.
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