“An economic slowdown in China, elevated geo-political tensions between Russia and Ukraine, and the Fed’s tapering of its stimulative asset purchase program are some of the biggest events in markets.
But there are so many more market stories we need to be watching.
In it’s latest 52-page Global Economic Outlook and Strategy report, Citi’s Willem Buiter and his team give us a sense of where the world’s major economies are headed.
The economists expect the global economy to expand 3.1% this year and 3.4% in 2015.
Citi’s Michael Saunders writes that they continue to cut their emerging market growth forecasts, though “this month’s revision largely reflects a large cut to our Russia GDP forecast, reflecting heightened uncertainty and the CBR’s recent rate hike.”
In China, Saunders expects policymakers to react to slower growth by “renewed credit easing.”
Among developed economies, Citi expects higher growth from the euro area, UK, and Sweden raising their forecasts, but cut Japan’s growth forecast. In the U.S., Citi expects the recent winter weakness to be reversed and thinks rate hikes won’t come till mid-2015.
We highlight a few of their viewpoints for each of the world’s most important economies including GDP forecasts through 2018….”
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