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Economic and Capital Markets Outlook – Q4 2026

Summary Recent readings of economic data confirm that the global economy is on track for a healthy expansion...

October 2026

Economic and Capital Markets Outlook – Q3 2026

Summary The global economy has proven remarkably durable following a succession of tariff shocks in 2025 and the...

July 2026

Economic and Capital Markets Outlook – Q2 2026

Summary The world economy has sustained a series of profound shocks in recent years, including the pandemic, the...

April 2026

Economic and Capital Markets Outlook – Q1 2026

January 2026 Q&A with our Economics Team The global economy has continued to advance despite a number of...

January 2026

By Wesley Scanterbury, Joël Kaczor

Economic and Capital Markets Outlook – Q4 2025

Summary Trade-related distortions are fading and recent readings of economic data suggest the global economy remains broadly resilient....

October 2025

Economic and Capital Markets Outlook – Q3 2025

Lingering uncertainty over tariffs is expected to temper economic activity in the second half of the year. Our...

July 2025

Economic and Capital Markets Outlook – Q2 2025

Tariffs and trade policy uncertainty have raised fears of a global downturn. Though the climate of uncertainty has...

April 2025

Economic and Capital Markets Outlook – Q1 2025

We anticipate another year of positive but below-trend growth for the global economy. Our base case is for...

January 2025

Economic and Capital Markets Outlook – Q4 2024

The global monetary easing cycle is underway, increasing the probability that the world economy is on track for...

October 2024

Economic and Capital Markets Outlook – Q3 2024

The central bank pivot to less restrictive monetary policy increases the likelihood that the global economy is heading...

July 2024

Economic and Capital Markets Outlook – Q2 2024

The lagged effect of monetary tightening remains the main factor behind our call for slower growth in the...

April 2024

Economic and Capital Markets Outlook – Q1 2024

The lagged impact of cumulative monetary tightening points to softer economic activity in the year ahead. The IMF...

January 2024

Economic and Capital Markets Outlook – Q4 2023

The global economy is on track for a healthy expansion in 2023. Equities have generated strong returns year-to-date,...

October 2023

Economic and Capital Markets Outlook – Q3 2023

  Economic and Capital Markets Outlook July 2023   The world economy has remained resilient despite tighter monetary...

July 2023

Economic and Capital Markets Outlook – Q2 2023

  Economic and Capital Markets Outlook April 2023   The cumulative impact of monetary tightening is expected to...

April 2023

Economic and Capital Markets Outlook – Q1 2023

  Economic and Capital Markets Outlook January 2023   The monetary policy tightening cycle remains the main factor...

January 2023

Economic and Capital Markets Outlook – Q4 2022

  Economic and Capital Markets Outlook October 2022   Q&A with the Economics Team Equity markets closed the...

October 2022

Economic and Capital Markets Outlook – Q3 2022

  Economic and Capital Markets Outlook July 2022   Central bank rate hikes, higher inflation, the Russia-Ukraine war...

July 2022

Economic and Capital Markets Outlook – Q2 2022

  Economic and Capital Markets Outlook April 2022   Due to the outbreak of war between Russia and...

April 2022

Economic and Capital Markets Outlook – Q1 2022

  Economic and Capital Markets Outlook January 2022   Economic activity is gradually transitioning to sustainable levels after...

January 2022

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