How have global stock markets performed over the past 12 months?
In this episode, Chief Investment Officer Owen Rask updates listeners on the economy, inflation, interest rates, big news headlines and household savings data.
Savings by age (Westpac data)
We have discovered that on average, a Westpac group customer holds $22,020 in their transaction, savings and term deposit accounts as of the 31st December 2020. This figure is skewed by some large deposit holders.
Why does this matter? Many people are telling me they are still saving money… just. But interest rates (impacts rent and mortgages) + cost of living is severe. This is reflected in the national data.
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