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The Forward View – Global: November 2023
Our global measure of consumer price inflation slowed once again in September (following a modest acceleration in August). Inflation in advanced economies was softer, with consumer prices rising by 4.2% yoy (down from 4.5% yoy in August) – the lowest rate of growth since September 2021. Recent AE inflation trends have boosted market confidence that most major central banks are at the end of their tightening cycle. Market pricing on 20 November allows for almost no chance of a further in this cycle rate rise by the US Federal Reserve, the Bank of England and the European Central Bank. That said, we continue to think ... (full story)