"With global inflation pressures easing, most central banks have commenced their long-awaited easing cycle. Ongoing cuts are expected over the coming year, which should help the global economy remain on track for a soft landing, as we have been forecasting. The RBA is taking a more patient approach given that inflation has remained somewhat stickier and monetary policy is less restrictive than its global counterparts. Nevertheless, we expect the RBA to be in a position to join the global rate cutting cycle early in 2025."

Dr Matthew Peter, QIC Chief Economist

"Despite more favourable near-term market conditions, uncertainty lingers in the form of geopolitical, demographic and trade dynamics.  

For investors with a view to the longer-term, the best portfolio offence remains diversification. 

Our portfolio construction continues to evolve - growing geographical diversification, incorporating non-directional alternative strategies, and judiciously extending private market strategies which offer risk-adjusted returns, inflation protection and targeted access to key thematics."

Allison Hill, QIC State Chief Investment Officer