ECB's shift of gears presents another set of risks
Ending the bank's QE programme risks fuelling public discontent within member states, driving up voters’ support for political extremes
The fact that these re-appraisals come on foot of spiking geopolitical, economic and financial risks gives the central banks’ latest decisions a new, battle planning, dimension.
The Fed's battles
In the US, growth prospects for the economy remain relatively robust, with the latest Fed expectations for 2.8 per cent GDP expansion in 2018, up 0.1 percentage points on the March outlook. Inflation expectations for 2018 also firmed up, from 1.9 per cent to 2.1 per cent.
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