In this report, we provide a detailed overview of the performance of the global and domestic equities market in July 2023. We also provide an outlook and sector recommendations for the coming months.
Global Equities Market
The global equities market ended July 2023 on a positive note, following a slowdown in inflationary pressures. This necessitated major central banks to ease off on their interest rate hikes. During the month, both the US Federal Reserve and the European Central Bank (ECB) raised their benchmark interest rates by 0.25% each to 5.25%-5.50% and 3.75% respectively. In the United Kingdom, we anticipate that the Bank of England (BOE) will follow suit and raise its key interest rate by 0.25%–0.50% in their August meeting, seeking to bring inflation down to their targeted rate of 2% (June 2023 inflation: 7.9%).
Domestic Equities Market
