The latest inflation numbers are in and it's held up more than expected. Overall, inflation is still trending down on an annual basis but progress slowed in the March quarter which will concern the RBA.

North, one of Australia’s leading wrap investment platforms, continues to bolster its investment menu with the launch of its new low-cost Diversified Index Managed Portfolio range.

– AMP Bank total deposits grew to $21.4 billion, up from $21.3 billion in Q4 23 – Platforms net cashflows1were $201 million, up 32% on Q1 23 of $152 million – North inflows from Independent Financial Advisers (IFAs) increased 22% on Q1 23 to $544 million – Platforms Assets Under Management (AUM) increased to $74.3 billion (Q4 23: $71.1 billion) – Superannuation & Investments (formerly Master Trust) AUM increased to $54.1 billion (Q4 23: $51.9 billion), with net cash outflows reducing to $371 million (Q1 23: net cash outflows of $610 million) – New Zealand Wealth Management net cash outflows1 were $5 million (Q1 23: net cash inflows $15 million), and AUM increased to $11.2 billion (Q4 23: $10.9 billion)

Increasing fears of an escalation between Israel and Iran has left markets concerned amid growing geopolitical tensions. Meanwhile, The Fed has been winding back its comments about cutting rates this year after a third month of higher inflation numbers.

In accordance with Listing Rule 3.13.3, AMP Limited attaches the Chair address and Chief Executive Officer address to be delivered at AMP’s 2024 Annual General Meeting.

This week Diana and Shane look at seven key things you need to know about the Australian property market, why the link between income and happiness is messy and what’s driving higher petrol prices.

Global markets have had a strong start to 2024 with US markets at a record high and a similar uplift seen in Australia. But, the macroeconomic backdrop remains complicated and downside risks are high which makes for an interesting investing environment.

AMP Limited notes the 3 April 2024 announcement by S&P that it has upgraded the long-term issuer credit ratings for AMP Bank Limited from BBB to BBB+, and both AMP Limited and AMP Group Holdings Limited from BBB- to BBB. The outlook on all ratings from S&P have changed to ‘Stable’ from ‘Positive’.

This week saw some important news on inflation with headline inflation unchanged at 3.4% which was less than expected. While the RBA is not rushing to change its stance, it was pleasing to see lower than expected levels of inflation in February with forecasts of a further slowing in inflation to 3.3% by June, which should see the start of rate cuts by around mid-year.