Global Economic Outlook

Global Economic Outlook aims to pool information about the latest predictions and outlooks of international institutions, selected central banks and Consensus Economics for the euro area, Germany, the USA, the United Kingdom, Japan, China and Russia. Each issue also analyses a selected topic significantly affecting the world economy or having an academic subtext.

April 2024
The wait for key central banks to cut interest rates continues. New inflation data have prompted markets to expect only one cut by the Fed this year. The question is how low interest rates will eventually fall, as there is a debate among central bankers about the long-run neutral interest rate level. The analytical part of this issue focuses on the impacts of climate change on monetary policy, showing that the effects of climate change and green policies will lead to a need for tighter monetary policy in the world. The April GEO brings additional details, with the chart in this issue illustrating how robotisation in manufacturing has been on the rise in selected countries. Details (pdf, 1.5 MB)

Unless indicated otherwise, the presented data1) are taken from the official forecasts of Consensus Forecasts (CF), the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), the European Central Bank (ECB), Deutsche Bundesbank (DBB), the Federal Reserve System (Fed), the Bank of England (BoE), the Bank of Japan (BoJ) and the Economist Intelligence Unit (EIU).

1) The CNB’s External Economic Relations Division guarantees that these data are up-to-date, but cannot vouch for their correctness and quality.