More than halfway through the fourth quarter of an eventful year, global economic and investment figures are more in line with our view. Key indicators in many economies are showing signs of deterioration.
Inflation has begun to decline even though it remains at a high level. But the risks to the economy and financial sector, and the likelihood of an emerging market crisis are higher. As a result, the accelerating pace of interest rates has begun to ease. In addition, global geopolitics will become even riskier in the future.
