Economic and market outlook
Gain expert perspective on the potential risks and opportunities ahead in the latest economic outlook published by our global Chief Investment Office (CIO).
Our latest reports

CIO Memo
Japan: ultra-loose monetary policy maintained amid uncertainties
The Bank of Japan left its negative interest rate and yield curve control parameters unchanged in light of the “extremely high uncertainties” in the growth and inflation outlook globally and in Japan.
Sep. 22, 2023

CIO Memo
BoE pauses after easing inflation
The Bank of England decided on a knife-edge vote to leave interest rates unchanged, but left the door open for further increases in the future to get inflation under control.
Sep. 21, 2023

CIO Memo
FOMC: Braced for (soft) landing?
The Federal Reserve lifted its economic projections for the year and left interest rates unchanged, but reiterated that future policy decisions will depend on economic data.
Sep. 21, 2023

CIO Memo
China: macro stabilising and RRR cuts
China’s economic indicators for August showed signs of improvement, but market sentiment toward the country's equities could remain relatively weak.
Sep. 15, 2023

CIO Memo
Fighting Inflation with 4%
The eurozone interest rate peak seems to have been reached – but rates will likely need to remain high for a longer period of time to get inflation under control.
Sep. 14, 2023

CIO Memo
U.S. CPI: Uptick keeps the Fed on their toes
U.S. inflation came in higher than expected for the month of August, but not enough for investors believe it would change the Federal Reserve's expected course of action.
Sep. 13, 2023

CIO Memo
Japan: end of negative interest rate regime in sight
Over the weekend, the Bank of Japan (BoJ) Governor Kazuo Ueda announced that Japan could soon end its decades-long negative interest rate regime.
Sep. 11, 2023
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