Market Update September 2025
RBA Holds Steady as Recovery Builds
The Reserve Bank of Australia (RBA) kept the cash rate unchanged at 3.60% this month, taking a cautious stance as the economy continues to recover. Inflation remains within the 2–3% target range, and household spending is beginning to strengthen, supported by rising real incomes and easier financial conditions. The housing market is also showing renewed momentum. At the same time, the RBA highlighted that uncertainties remain both domestically and globally, and it will continue to assess conditions carefully before making its next move. Markets still expect a further rate cut in November, which would lower the cash rate to 3.35%.
Australia: Signs of Recovery
The domestic economy is slowly regaining its footing. Consumer sentiment has lifted to its highest level in over three years, and monthly spending indicators suggest households are beginning to play a greater role in driving growth. The housing market has responded positively to recent rate cuts, reinforcing the sense that easier financial conditions are starting to flow through. Employment conditions remain steady, with unemployment holding at 4.2%, although job growth has slowed somewhat. Inflation, while manageable, is still being closely monitored given weak productivity and elevated unit labour costs. Overall, the picture is one of gradual but uneven recovery.
Global Conditions: Mixed but Supportive
Globally, central banks are also leaning toward easier policy. In the United States, the Federal Reserve has signalled that policy remains restrictive but opened the door to a September cut. Europe’s growth outlook has stabilised with inflation close to target, while the UK faces renewed price stickiness and China continues to rely on targeted stimulus to support activity. Equity markets have responded positively to the prospect of looser policy, though beneath the surface there are ongoing risks such as high valuations, tight credit spreads, and softer labour markets in some regions.
What This Means for Investors
For investors, the environment is constructive but not without its challenges. Easier monetary policy is helping to support financial markets, while improving household conditions in Australia suggest a firmer base for growth ahead. However, policy uncertainty, high equity valuations, and global risks remain important watchpoints.
At Skyring, our focus is on delivering consistent income and capital preservation through disciplined, risk-aware strategies. Right now, we are offering an additional opportunity for investors. For a limited time, new investments in the Skyring Fixed Income Fund Bonus Class made before 24 December 2025 will receive an extra 1.50% p.a paid until 30 April 2026., lifting the total distribution rate to 8.05% p.a.^, paid monthly.
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This blog post is for general information only and does not consider your personal circumstances, financial needs, or objectives. You should read the Product Disclosure Statement carefully before investing. Past performance is not a reliable indicator of future results. Investments carry risks including possible loss of capital. No guarantee is made regarding the repayment of capital or the payment of income.
As with all investments, returns are subject to market conditions and the performance of the underlying assets.
The figures in this blog are for illustrative purposes only and based on indicative distribution rates. Actual returns may vary.
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Skyring Asset Management Limited ACN 156 533 041 holds Australian Financial Services License (AFSL) 422902. Skyring has registered the Skyring Fixed Income Fund ARSN 622 775 464 with the Australian Securities and Investments Commission (ASIC). Skyring Asset Management Limited ACN 156 533 041 AFSL 422902 is the issuer and manager of the Skyring Fixed Income Fund ARSN 622 775 464. Skyring has registered the Skyring Platinum Fixed Income Fund ARSN 646 317 982 with the Australian Securities and Investments Commission (ASIC). Skyring Asset Management Limited ACN 156 533 041 AFSL 422902 is the issuer and manager of the Skyring Platinum Fixed Income Fund ARSN 646 317 982.
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