Overview:

• Inflation remains subdued and financial markets calm, little need for aggressive central bank moves on policy.
• Global economic upturn expected to continue, several “tail risks” to upturn fading but N. Korea the new worry.
• Uncertainty over US economic policy – how far will business taxes be cut? How aggressive will a Trump trade policy be?

For further details, please see the attached document.

• The forward view – Global: September 2017 (PDF, 382kb)