Raising the bar! Mid-Year Outlook Update - June 2015

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June 23, 2015

2015 Outlook: We expect GDP growth to accelerate in 2015 and 2016, favoured by healthier domestic demand in Europe and in the US. A cyclical uptrend in the developed world could favor the turnaround in Emerging Markets, with easing downward pressures from China and a possible breakthrough of reforms in some key countries. Monetary policies appear to be appropriate and supportive of economic growth in the main economic areas. Central Banks are providing financial markets with ample liquidity; this has contributed to preserving overall financial stability  averting the risks of a deflation spiral that some had feared in past quarters.

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