Higher-for-longer energy prices mean higher-for-longer inflation and lower-for-longer economic growth and our forecasts have been revised accordingly.
Consistent with higher commodity price assumptions, our inflation forecasts have again been raised across the board, this time including for 2027.
The outlook for monetary policy has changed markedly due to the deteriorating inflation outlook.
We now expect real GDP contractions, albeit short-lived and modest in scale, in many of Europe’s largest economies, including Germany, France, Italy and the UK.
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What are the key changes in our global economic outlook this month?
Higher-for-longer energy prices mean higher-for-longer inflation and lower-for-longer economic growth and our forecasts have been revised accordingly. At the time of writing, whether an agreement
