Uncertainty anxiety - Investment Clock Economic update

Global growth looked to be ticking along at a modest pace at the start of 2025, but cracks are now appearing.

A very uncertain US policy backdrop and related disruptions to global trade seem likely to weigh on growth in the US and beyond. Fiscal stimulus may provide something of a shield in economies like the Euro area and China. A few more rate cuts seem likely in major economies (except in Japan), albeit more gradual, careful ones, but the US inflation outlook is uncertain enough that (US) rate hikes can’t be ruled out either.

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The views expressed are those of the author at the date of publication unless otherwise indicated, which are subject to change, and is not investment advice.