April was marked by economic uncertainty and global trade tensions, which led to market declines and volatility. These factors are expected to influence the Reserve Bank of Australia’s (RBA) cash rate decisions, alongside the recent decline in core inflation within the target range.

Australian shares slumped in early April but recovered, with the ASX 200 up 2.5% by month’s end. However, the index is down nearly 1.3% since the start of the year and may fall further, according to some commentators. In the United States, the S&P 500 regained strength after falling to its lowest point in a year.

Unemployment rose slightly in the latest figures, up to 4.1%, and consumer sentiment fell by 6% in April, reflecting unease about domestic and global developments, particularly the impact of US tariff announcements.

The International Monetary Fund (IMF) delivered sombre news for Australia, predicting lower growth than earlier forecasts this year. Despite the slowdown, the IMF states that global growth remains “well above” recession levels.

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