Preliminary PMIs, published by Markit today, suggest that manufacturing growth in advanced economies started Q4 on a strong note. However, they also indicate that price pressures are still subdued.

Fiscal policy in advanced economies is likely to be slightly accommodative next year, providing a benign backdrop for the world as monetary support is withdrawn. But any direct benefits will be modest...

Interest rate hikes are commonly thought to cause recessions. However, the track record of G7 tightening cycles shows that this has usually not been the case.

We expect global growth to slow only modestly as the era of easy money starts drawing to a close. The monetary tightening is set to be gradual, limited and staggered, with some countries only starting...