Bundles

3 November 2023

ING Monthly: Too early for optimism

As we look back on what the last month has brought for the global economy, it's becoming increasingly apparent that being right about a less promising outlook isn't always necessarily a good thing

In this bundle

Too early for optimism

ING's Carsten Brzeski on why being right doesn't bring us any pleasure this time around

Commodities, Food & Agri

Energy

Geopolitics dominate commodity markets

Energy markets have been shaken by geopolitical tensions over the last month, a theme which is likely to persist for oil in the short term

Our view on central banks

As tightening cycles draw to a close, here's what could be next for major central banks

, and 2 others

United States

Higher for longer means more headwinds for US growth

The risks to growth are firmly to the downside

The eurozone is flirting with recession

Don't expect any improvement in the coming months

United Kingdom

UK headed for stagnation as rate hikes start to bite

Higher interest rates will act as a growing drag on UK activity in 2024

China

Policymakers in China look to the future after a crisis averted

China is now focusing on longer-term goals as economy stabilises

One region but very different stories for CEE countries

One region but very different stories for CEE countries

There's an incredibly mixed picture across Central and Eastern Europe

, and 2 others

Italy

The Italian economy looks set to stagnate over the winter

The Italian economy should continue to stagnate

FX: Dollar to defy seasonal trends

November and December are normally weak months for the dollar. This year should be different

Rates

Rates: Still biased to rise

We've had a breather, but the pressure remains

Report

ING’s November Monthly: Too early for optimism

All of the latest from our team across the globe on what could be next in a less promising economic outlook