Choose wisely

It is difficult to set aside the near-term impact on the global economy and world equity markets of the current military action against Iraq, not least because of uncertainty as to its duration. However, while an end to the conflict may not be as speedy as some commentators originally forecast, most analysts still believe a protracted conflict is unlikely. Against this background, we are confident that the efforts of central banks and governments to boost global economic growth over the past year or so will lead to a modest uplift in economic activity once a resolution has been achieved. ...