Market & Portfolio Update - August 2022
Central bankers from around the world met during August at the annual ‘Jackson Hole Symposium’ in the USA. Central banks, like the Reserve Bank of New Zealand (RBNZ), play an important role in guiding the various economies around the world as they battle inflation, so this event was an opportunity to discuss the challenges they’re facing and reiterate their commitment to getting inflation back under control. This came only one week after the RBNZ updated its own monetary policy, raising the OCR from 2.50% to 3.00%.
A look back at when the world feared the worst
On August 2, 1990, the world woke up to a grim headline: “Iraq Invades Kuwait; Oil Prices Soar, Markets Plunge.”
Saddam Hussein's forces had crossed into Kuwait, triggering fears of a prolonged conflict in the oil-rich Middle East.
The immediate market reaction was swift and severe.
Lifetime Book Club: The Let Them Theory
In a world where we spend so much energy trying to control outcomes, manage other people’s opinions, and keep everything on track, this book offers a different approach. One that suggests peace comes not from controlling more, but from letting go.