BIS: the global economy at a 'turning point'
• The Bank for International Settlements (BIS) warns of a 'turning point' in the global economy due to:
• increasing trade tensions,
• geopolitical instability,
• high levels of public debt,
• changes in inflation expectations after COVID
Central banks are warned to maintain a high level of vigilance regarding inflation.
BIS warns of the possibility of entrenched inflation expectations, and the Fed is ready for tough responses to heightened risks.
• In the coming days - the June report on employers in the US (Non-farm payrolls), as well as PMI for Europe and the US, and inflation data for the Eurozone: this could determine the potential for further steps by Central Banks—both the Fed and the Eurozone.