Markets and the Fund
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Market outlook
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Around the world, many positive steps have been taken to turn the ship around. Governments launched substantial fiscal stimulus packages (for example, the US recently introduced a US$787 billion plan to help boost the economy), and reserve banks have cut interest rates in a bid to stimulate activity (at the time of writing, the UK, the US and Japan all have official interest rates close to zero).
Encouragingly, some of these measures seem to be having the desired effect. International share markets, as well as our own local share market, posted positive returns just prior to the end of the financial year. At this early stage, however, these positive results should be viewed with restraint. The road ahead is likely to remain fairly uncertain, at least for the foreseeable future.
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