Fear the taper, not the forecast

The IMF's downgraded growth forecasts should not shake local investors, but the consequences of Fed tapering and slowing growth in China will be more serious.

Slowing growth in China is of particular concern to the International Monetary Fund, but it is something Australian companies and investors have already considered. The share prices of BHP Billiton and Rio Tinto have already been whipped by investors at the mere thought of spluttering from China and lower commodity prices.

It would be naïve to think the state of the global economy has no impact on our share market, but in comparison with commodity prices, history suggests it isn’t that significant.

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