Market Essentials - July 2022

Question marks hang over the second half of 2022 as inflation pressures and the impact of international events start to bite here in Australia. Treasurer Jim Chalmers warned that inflation will be ‘significantly higher’ than expected this year, while Reserve Bank governor Philip Lowe predicted that inflation would hit a 32-year high of 7 per cent ‘sooner rather than later’. It was no surprise that nervous vendors withdrew from auctions in record numbers before the last weekend of June, as interest from prospective buyers waned.