Looking ahead to 2024, Ric Deverell, Macquarie's Chief Economist and Head of Net Zero, explains how global growth has been more resilient than anticipated over the past year, with inflation falling in most major economies. While the risk of a deep global recession has moderated, Ric still expects growth to slow in early 2024 as the full impact of the long and variable lags of monetary policy is felt around the world. However, falling inflation will allow central banks to ease policy as the year progresses, setting the global economy up for a 2025 recovery. His message: remain alert, but less alarmed.
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