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ABN Amro publishes its economic outlook – 01.12.2022. at 11:37

ABN Amro publishes its economic outlook – 01.12.2022. at 11:37

(AOF) – Present in Paris, Amsterdam and Frankfurt, Amro Investment Solutions is the asset management company of the ABN Amro Bank NV group. In its latest economic outlook, the company notes that “global economic activity contracted for the third month in a row, and services are now contracting at the same pace as manufacturing.”

“Global economic activity is near contractionary levels, but leading indicators still suggest a soft landing. The recent decline in energy prices in Europe also appears to rule out the possibility of a ‘serious slowdown.’

On US inflation: “We are witnessing a shift from goods to services inflation. US inflation, the highest in decades, slowed more than expected in October, giving the Fed an opportunity to “adopt a less aggressive rate hike policy. the slowdown in core inflation is good news, inflation remains too high to meet the Fed’s targets.”

On monetary policy: “Jerome Powell indicated that we should wait for a sustained slowdown in inflation before drawing conclusions about the effects of monetary policy. He also warned that interest rates are likely to reach higher levels than central bank leaders previously expected. Despite aggressive monetary tightening, more than the 1980s, the labor market and consumer demand, despite some contraction, remain very resilient.”

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