The policies of the incoming Trump administration are likely to drive the outlook for growth and inflation in 2025. We expect a ramp-up in tariffs early next year that leads to a pickup in inflation and slower investment growth partly offset by an extension of the Trump tax cuts and deregulation.
9 min read | January 2025
Turbulence ahead for Asia from Trumponomics, slowing exports and a weaker China
4 min read | December 2024
The ECB’s focus is shifting from high inflation to worries about anemic economic growth. We increasingly believe the consumer-led recovery is unlikely to materialize. Consequently, we expect the ECB to lower rates to below neutral to support the economy
7 min read | December 2024
Nomura’s Japan economists and strategists outline what’s on the horizon as the market returns to normal
The emergence of generative AI represents a springboard for economic growth and digital transformation for Japan.
3 min read | January 2025
January 03, 2025
