PRFA Reports

Investor Insights - June 2025 quarter

Global markets brush off uncertainty, but economic risks remain.

Australian economic growth remains anaemic, but it's believed that a more favourable policy backdrop characterised by subdued inflation, fiscal support and rate cuts should help support economic activity.

Economic Update - EOFY 2025

The 2025 financial year unfolded in two distinct phases. The first six months were marked by strong equity market performance, supported by solid corporate earnings, stable economic growth, and

declining inflation trending towards central bank targets. Then, as the calendar year began, geopolitical uncertainty took hold, with US trade policy becoming a key concern for markets.

Fears over the impact of tariffs on inflation and growth prompted an investor shift away from US equities, increased interest in European markets, and greater volatility in bond yields. Investor demand for gold also rose as risk aversion returned to the forefront.

---ooOoo---

As we post this update, the RBA has just announced its decision to keep rates on hold, in what is being called a surprise decision. The RBA Governor said, however, that further relief was likely, with the outcome of the June quarter inflation report (released at the end of July) being the key factor. AMP Chief Economist, Shane Oliver, expects the RBA to cut in August & November this year, and then February 2026. Westpac IQ concurs with this view.

Economic Update May 2025

Economic Update April 2025

Investor Insights - March 2025 quarter - some in-depth analysis

PRFA Trump Tariff - April 2025

Economic Update March 2025

Economic Update February 2025

Economic Update January 2025

Economic Update December 2024 - year in review

Economic Update November 2024

Economic Update September 2024

Economic Update July 2024

Economic Update - 2024FY in review