Given how resilient the global and local economies have been, negative developments may have a larger impact on investors than consumers.
Green shoots of optimism are increasing hopes that we are through the worst of this cycle – both here and offshore. A more rapid mid-year decline in inflation, without an obvious rise in unemployment, has emboldened those looking for a “soft landing” – the so-called immaculate (pain-free) disinflation that avoids higher rates and recession.
