In the September 2020 edition of the Market Update:
- 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 $1,500 per fortnight to $1,200, and $750 for those working less than 20 hours per week.