Following resilient growth across many economies in 2023, we expect a slowdown in 2024. We characterise this more as a mid-cycle adjustment, rather than end-cycle event Inflation has come down sharply in most jurisdictions, primarily as energy, food and consumer goods prices have adjusted. Core prices have been slower to fall. Most should see continued disinflation across 2024, but only reach target in 2025. Some will struggle based on our forecasts
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