9 Januari 2018
Monthly Economic Update
Every month, our economists study the macroeconomic situation. They analyse the events that have had an impact in recent months, and discuss possible consequences.
Key points to remember
The growing inflation puzzle
The financial markets have started 2018 where they left off in 2017. Manifold geopolitical risks continue to be treated as background noise, and a stream of mildly positive growth surprises continue to keep asset prices buoyant. In our view, forecasters may still be underestimating the upswing, in which case a bigger threat to the markets’ mood may come from inflation. 2018 may give some answers to the puzzle as to why inflation hasn’t already stirred.
Follow our economic updates by regularly consulting our Economy page.