The ANZ Global Lead Index (GLI) and Growth Trackers continue to show that global growth is broadly based and above trend, notes the research team at ANZ.
“With output gaps closed in some economies, inflation pressures could become more persistent.”
“The recent spike in financial market volatility means financial conditions are less supportive of activity, though they’re still easy. A period of sustained heightened volatility would probably weigh on growth.”
“Financial markets should expect higher volatility relative to recent years as central banks slowly start to normalise policy. Provided the rise in inflation is gradual, so too should the pick-up in volatility, and this shouldn’t be disruptive to growth.”
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