Aussies warned financial markets likely to remain volatile

Individuals considering investing some of their money may be more tempted to put their funds into savings accounts following an expert's assessment of the world's financial sector.

Treasury secretary Martin Parkinson told the University of Western Australia that "volatility" is likely to be "a feature of our global financial markets over the next few years", reports the AAP.

"Such is the sense of concern over the lack of credible policy responses, repeat episodes may be triggered by apparently innocuous events or pieces of information," he stated.

His comments may deter Aussies from investing in stocks and shares and tempt them to compare savings accounts online to help them avoid losing out as a result of an unexpected dip in the stock market.

However, those who opt for this saving option may want to keep an eye on interest rates, which chief executive of the National Bank of Australia Cameron Clyne recently said would be cut by November this year.

At an Australia Israel Chamber of Commerce lunch he said the nation is in a "wait-and-see" state at the moment, reported the Australian.

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