The latest economic releases suggest the aggressive monetary easing in the G7 has successfully engin...
The latest economic releases suggest the aggressive monetary easing in the G7 has successfully engineered an economic rebound on both sides of the Atlantic. It is particularly noticeable that forward-looking economic indicators, such as the IFO survey in Germany and France's INSEE survey, have surprised on the upside. Although the high level of core inflation is a slight concern, we are relatively sanguine on the outlook going forward. We expect headline inflation to fall in 2002 and likely surprise on the downside. Of course, as economic growth improves, the necessity for lower rates...
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