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Statement of the Monetary Policy Committee

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Economy News

Monetary Policy Committee,Inflation,Economic Growth

As we approach the end of the year, easing headline inflation and modest economic growth remain the dominant global economic trends of this past year. Output in the Euro Area is poor, while the robust growth seen in North America is likely to moderate. China’s growth performance is still weak, with few benefits for global commodity prices. Across most regions, monetary policy will continue to focus on achieving inflation targets, while high debt levels will require fiscal consolidation efforts. In the developing world, financing conditions are expected to remain tight and growth moderate. The longer-term economic outlook however, remains uncertain. Weaker household consumption and falling property prices may drag on growth for a sustained period. Climate change and geopolitical tensions threaten supply chains, output and prices.

As we approach the end of the year, easing headline inflation and modest economic growth remain the dominant global economic trends of this past year. Output in the Euro Area is poor, while the robust growth seen in North America is likely to moderate. China’s growth performance is still weak, with few benefits for global commodity prices. Across most regions, monetary policy will continue to focus on achieving inflation targets, while high debt levels will require fiscal consolidation efforts.

In the developing world, financing conditions are expected to remain tight and growth moderate. The longer-term economic outlook however, remains uncertain. Weaker household consumption and falling property prices may drag on growth for a sustained period. Climate change and geopolitical tensions threaten supply chains, output and prices

 

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