Current question in the Economics Forum:
"What is your estimate for economic growth in the most important regions and sectors of the global economy and do you expect inflationary or deflationary trends in Europe next year? Which macroeconomic factors should investors monitor most in 2014?”
"Economic growth looks set to continue to strengthen into 2014 and could well come in above 3.5% globally based on strong momentum from developed market economies, coupled with continued stability and gentle strengthening activity levels across Europe, not to mention a better backdrop in emerging markets. Central Bank’s will remain focussed on growth and creating employment and will therefore keep cash rates at or near zero for the whole of 2014 as a result. Further quantitative easing is likely if growth disappoints. Growth will be further fostered by continued weakness in commodity prices where oversupply in metals, good harvests in food, and shale gas developments in energy will keep prices low. Against this backdrop inflation will not be a concern, indeed few economic agents enjoy pricing power of any sort and those fearing inflation from the efforts to stabilise and renew the global economy post the great financial crisis will have to wait a good deal longer for their concerns to surface."