Global Economic
Outlook and Strategy
➤ Resilient global growth is pushing up commodity
prices and boosting global inflation.
➤ Major central banks are responding by highlighting
their concerns about inflation.
➤ But fixed-income markets have overreacted.
Downside risks to growth remain and that should
limit options for monetary tightening going forward.

 

 

 

Table of Contents
Page
Key Events Calendar 2
Summary of Main Views 3
Overview 4-9
Short-Term Economic Forecasts 10
Key Global Economic Indicators 11
Short-Term Currency, Interest Rate and Bond Forecasts 12-13
Foreign Exchange Strategy 14-15
Global Equity Strategy 16-17
Long-Term Economic and Market Forecasts 18-19
Country Commentary
United States 20
Japan 21
Euro Area 22-24
United Kingdom 25
Switzerland, Sweden, Denmark, and Norway 26
Canada 27
Australia and New Zealand 28
China 29
Emerging Markets 30-39
EMA Contact List 39
Recent Publications 40