After a strong end to 2017, we see clear signs that the global business cycle
is losing momentum in early 2018.
While the global cycle is softening, we still expect growth to stay above
potential in 2018 and 2019, led by the US, China and Emerging Markets.
Inflation pressures will rise modestly, implying a gradual withdrawal of
monetary policy support in advanced economies.
The risks to our forecast are tilted to the downside from an escalation of trade
tension into a full-blown trade war and renewed Italian debt crisis.
To read the entire report Please click on the pdf File Below: