Inflation pandemic in remission
The latest inflation figures for November in the major economies confirmed that the inflationary surge is well and truly behind us. This is also the view taken by the central banks, which have made it clear that further rate hikes are now unlikely. Instead, they struck a much more conciliatory tone. It should also be said that business indicators at the end of the year remain distinctly fragile after having deteriorated for several months. Fears of a recession have subsided, but the fourth quarter will be no cause for celebrating. The remission is there, but the cure is not complete. We wish you all a happy holiday season and see you on January 6, 2024 for the next edition