I used to have a crystal ball, but it’s broken. There are signs that inflation is heading in the right direction, and I feel as soon as Central banks cease hiking rates, share markets may start to rebound.
To get a sustained recovery we will probably need to see some disinflation (which is caused when Central banks go too far) and an end to rate hikes. We will also need to see positive economic growth, given the demand is still there, and bottlenecks in the supply chain start to ease. Already, there are two positive factors at play i.e. the demand is certainly there and unemployment remains very low. The supply line crisis is easing – used car prices are abating, new vehicle deliveries are improving and the costs of building materials are not rising as much. Also, I understand that inbound tourism plus visa applicants is on the rebound, as well as student accommodation requests. All of this will assist in relieving some of the pressure on hospitality, retail and construction, while putting pressure on further wages growth. So I remain positive that the next 6 months may see a turnaround.
Cybersecurity
We are all aware of the recent breach at Optus. If you have been impacted by this data breach, please let us know.
To that end, Future Gen Solution has upgraded our cyber security protocols employing:
1. Multi-factor authentication – this has been activated on our key client data system and we are seeking to implement this as much as we can across our logins.
2. We have engaged our IT security provider to conduct an audit on our systems, plus conduct a check on all remote server access devices by our Team when they work from home. This has returned a good result. They are also in the process of providing us with a score card and action plan for improvements over the coming 12 months.
3. When we send you PDF documents with sensitive information, we will password protect them as much as possible.
4. We have asked our IT Consultants to prepare a client webinar on cybersecurity and make you aware of what safeguards you can undertake i.e. client education.
As cyber criminals become more sophisticated, we ask that you please contact us if you receive any correspondence from our office, or your financial providers, that you think looks suspicious. It’s always worth a quick call to double check. We figure if it can happen to Optus then it can happen to all of us.