Australian Met body says El Nino index hits 18-year high
In short
Australia’s weather agency said on October 25 that the Nino3.4 index was at its highest level since 2008. It also said a positive Indian Ocean Dipole event was happening.
The report suggests El Nino is getting very strong, but it does not say what damage or market impact has already happened.
What the reporting says
Australia's meteorological body said on October 25 that the Nino3.4 index was at its highest level since 2008, while a positive Indian Ocean Dipole event was underway. The report says this points to El Nino ramping up into a very strong weather event. The immediate market or economic effect was not stated in the available reporting.
Why it matters
The Australian meteorological body said the Nino3.4 index was at its highest since 2008 as of October 25, with a positive Indian Ocean Dipole event also underway. The summary frames this as El Nino strengthening into a very strong weather event. The reporting does not specify expected rainfall, crop, or market impacts, so consequences remain uncertain.