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A summer catch-up

The data released over the northern hemisphere summer break have suggested that economic recoveries in most countries have started to lose some steam. At the same time, while inflation is generally higher now that at the start of the summer, there are signs that it is nearing a peak in most places. Against this backdrop, while the major central banks have begun to discuss tapering asset purchases, the bigger picture is that policy settings will remain extremely accommodative.
Neil Shearing Group Chief Economist
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