Flash Notes

30 de Março de 2023
Monthly Report | Economic and Financial Market Outlook | November 2022

Inflection points

The world economy is undergoing a phase of transition from the resilience that growth continued to show during the summer months to the strong downward adjustment of activity anticipated by the rapid deterioration of economic sentiment (especially marked in October) and the worsening of financial conditions. There are several risks which could further move the needle, including covid-zero policies in China and geopolitical tensions.
The key for the coming months will be to definitively turn the corner on inflation, seeing off the most aggressive interest rate rises in the last 40 years and reducing volatility in the financial markets.