Welcome to the August edition of the Economic Update by Senior Economist, Bob Cunneen

Find out which key events have been driving markets:

• Central banks continue to rapidly raise interest rates to contain inflation. Australia’s central bank raised the interest rate by 0.5% in both July and August. The US central bank raised interest rates by 0.75% and the European Central Bank by 0.5% in July.
• Global shares made encouraging gains in July after the sharp falls seen in the first six months of this year.
• Australian shares recorded strong gains in July with the ASX 200 delivering 5.7%.

Read the report in full