The Globe: Outlook for 2023. The new year should bring declining inflation and to a simultaneous slowdown in growth. Under the baseline scenario, the central banks are expected to complete their tightening cycles in the opening quarter of the year and then have a free hand in containing the slowdown of growth. As previously mentioned, in this context medium and long-term rates should stabilise, if not drop back. Easing pessimism could support stocks in the immediate term, but the recovery will in any case have to be validated by the resilience of the economic cycle.
Audio recorded on 20 Dec. 2022