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MNI Global Macro Outlook - Aug 2022: Inflation Peaking, But...

GLOBAL

MNI's latest Global Macro Outlook meeting (PDF emailed to subscribers and available on our website) focused on signs that price pressures have sequentially peaked - but there’s no guarantee that slowing growth will cool inflation quickly. Topics include:

  • Weakness in surveys (and increasingly in hard data) confirms global slowdown is ongoing
  • Leading indicators point to continued growth weakness into end-2022
  • Yield curves are flattening/inverting, with rate cut expectations rife as central bank pivots are priced in
  • But current inflation levels are extremely elevated, and price pressures will be persistent in a few very important areas

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