Markets by Trading view
European Central Bank (ECB) president Christine Lagarde, US Federal Reserve chair Jerome Powell, Bank of England governor Andrew Bailey and Bank of Japan governor Haruhiko Kuroda came together (virtually) on 29 September to answer these questions in an hour-long discussion on global economic prospects entitled ‘Beyond the pandemic: the future of monetary policy’ during the ECB Forum on Central Banking.
With the recent economic and earnings news so good, why then have markets made little progress just recently? The answer seems to be quite simple – a lot of good news was already in the price.
The IMF has just released its latest world economic outlook which was relatively optimistic. Its forecast for global growth has been raised to 6.6% and 4.4% for this year and next, with the US accounting for the lion’s share of the upward revision on the back of the large fiscal stimulus.


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