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June 2016 - SLUGGISH GROWTH, BEFORE A WAVE OF POLITICAL RISKS
Global growth prospects remain sluggish in spite of reduced expectations of Fed tightening and a moderate recovery in oil price. Over the rest of 2016, we expect growth to continue to suffer from uncertainty over activity in the United States and the Chinese slowdown. The recovery is set to strengthen in the Eurozone but is unlikely to be enough to bolster inflation. And to make matters worse, political risks abound.