Bundles

6 February 2025

ING Monthly: Top Trumps and the global economy’s House of Cards

Experiencing Trump's second term in office is akin to navigating the twists and turns of a political thriller like House of Cards

In this bundle

Top Trumps: the global economy's House of Cards

Will there be any winners in this tariff card game?

United States

Trump's whirlwind leaves the world breathless

President Trump is pushing ahead with his pro-growth agenda, but it could be a bumpy ride

Trump’s trade tariffs: exploring the potential actions his administration could take

From unilateral tariffs to selective tariffs on specific products, the possibilities under the new Trump administration seem vast

, and

Global central banks are treading carefully

Central banks and their rate cutting plans

, and 2 others

Commodities, Food & Agri

Energy

Energy markets shaken by tariff talk and sanctions

Oil and gas markets have had a volatile start to 2025

Stagnant eurozone economy faces more headwinds

Right now, only thing is certain for the eurozone: more uncertainty

United Kingdom

The UK Treasury’s tax and spend tightrope

Chancellor Rachel Reeves faces tough choices due to weaker growth forecasts and rising market rates

China

Chinese economy hits 2024 growth target, but storm clouds are gathering

The data we have seen so far on the Chinese economy suggests that 2025 is off to a relatively weak start

Asian central banks cut rates to mitigate growth risks

Asian central banks cut rates to mitigate growth risks

Asian central banks are becoming more cautious about the domestic growth outlook, leading to pre-emptive rate cuts

CEE: Awaiting a full economic recovery

Economic growth last year was disappointing and we expect a similar picture for the region this year

, and 3 others

Germany

Germany election preview: how to make the economy great again

What needs to be done to make the German economy great again?

FX: Learning to live with volatility

The return of the tariff threat into the second quarter should give the dollar another boost across the board

Rates

United States

Tariffs and other stuff pushing rates around

Tariffs are a complicated story, and could force rates down initially – but cumulatively they'll end up higher

Report

ING Monthly: Top Trumps and the global economy’s House of Cards

ING's February Economic Outlook focuses on Trump's second presidency and its impact on the global economy