Optimism about global growth prospects this year and next is building among hundreds of economists polled by Reuters, with risks still tilted toward higher...
BENGALURU - Optimism about global growth prospects this year and next is building among hundreds of economists polled by Reuters, with risks still tilted toward higher inflation even as they cling on to their forecasts for interest rate cuts.
But even with that upgrade, many central banks are still expected to cut rates at least twice by year-end. That optimism stands in contrast to worries earlier this year whether the U.S. economy would be able to absorb such an aggressive season of monetary tightening without a downturn, even though concerns about the No. 2 economy, China, remain.
With growth holding up for now, inflation still will mostly dictate how low interest rates can go and when. Even now a good majority of central banks - 19 of 27 with an inflation target - were not expected to meet it by end-2024. Asked which component of core inflation will be the most sticky for the remainder of 2024, a majority - 56 of 104 who responded to that question - said services, followed by 30 choosing shelter and rents. The remaining 18 cited others.
According to a research report published by Exactitude Consultancy, Companies covered: PrimeDisc International Ltd.
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