Key Forecast Trends
- The global economy moved along as expected, with some slowing but not enough to trigger recession.
- We view the slowing as positive, contributing to disinflation and bringing economies back into balance.
- Rate cuts have begun in key markets, with US easing now expected to begin in December.
- Coming elections could weigh on markets, but the global economy remains in relatively good shape.
- Growth stabilized in China, easing market concerns, but further improvement from here will rely on effective policy.
- We continue to expect a soft landing, as price pressures ease in more regions.
