Economic Update – October 2020

On October 6th the Government will outline one of the most important Federal Budgets in living memory.

The biggest government stimulus program since WWII has resulted in a budget deficit of $85.3 billion in the 2019/20 FY, with more spending on the cards to drive economic growth.

The Reserve Bank has kept the cash rate at its current record low of 0.25%.

Please get in touch if you’d like assistance with your personal financial situation.

Any information or advice contained on this website is general in nature only and does not constitute personal or investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. You should seek independent financial advice prior to acquiring a financial product. All securities and financial products such as derivatives or instruments transactions involve risks. Please remember that past performance results are not necessarily indicative of future results.

Liked this article? Share it!