Outlook I Key themes Improving conditions with momentum forecast to build as we head in to 2025
Growth GDP growth is on an improving trajectory with momentum forecast to build as we head in to 2025.
Prices Inflation is falling and is
Interest rates The start of the interest rate cutting cycle is underway in Europe and in sight in the U.S. Easing will continue through 2025. Australia and Japan are exceptions.
Risks & uncertainty Geopolitical tensions and risks remain elevated. Electoral change is happening in Europe, and the US election is just around the corner.
forecast to remain benign over the coming years. Some risks to inflation from global shipping are re-emerging.
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