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Much like 2022, there can’t be many forecasters unhappy to see the back of 2023. Nonetheless, with crystal ball in hand, here’s what the Econoday team think will be driving global financial markets in 2024.

This year has produced the usual string of surprises for global financial markets. The Econoday team reflect on which of these shocks had the most important impact on international investors.

Financial markets are increasingly anticipating interest rate cuts in 2024 despite many central banks sounding much more cautious. The Econoday team looks at what the economic data suggest will happen

In the face of extreme monetary tightening abroad, speculation was rife that the BoJ might finally be forced to follow suit yesterday. In practice, such talk proved overly aggressive. Max Sato and Jeremy Hawkins discuss what actually happened and what it means.

It took a while, but investors now seem to accept that many central banks will be keeping key interest rates at high levels for longer than originally expected. And with that, comes increased downside risk to financial markets and economic growth. The Econoday team discuss the potential fallout.

After the recent round of central bank announcements, hopes are building that many tightening cycles may finally be nearing an end. However, with prices up around 30 percent since last June, the oil market could yet mean some unwelcome upside surprises in future inflation reports

Over the last couple of days, we’ve seen key interest rates hiked in the Eurozone, left on hold in the U.S. and cut in China. All of which means that the global economic outlook is as complicated as ever. The Econoday team pull it all together.

Taken together with the latest raft of central bank announcements, the recent deluge of real economy and inflation updates has given investors plenty to chew on. Here’s Econoday’s take on what it all means for the global economic outlook and financial markets

Recent interest rate hikes by several major central banks clearly underline the determination of the monetary authorities to get inflation back under control. However, for now, QT may have to run alongside central bank liquidity injections to reassure investors that another global financial crisis is not just around the corner.

Despite some generally hawkish central bank statements this week, financial markets apparently remain convinced that official interest rates will be falling before year-end. So, who’s right and does the disconnect matter? Terry Sheehan and Jeremy Hawkins discuss.

Market reaction to this month’s data underscores just how uncertain investors are about the global economic outlook. And this means that asset prices are likely to remain particularly sensitive to the higher frequency data, at least until the picture becomes clearer.

Friday’s U.S. employment report dominates this week’s economic data calendar but it’s been the disastrous U-turn in UK government fiscal policy and the subsequent enforced deferral of the BoE’s QT plans that’s left many investors really rattled. Terry Sheehan and Jeremy Hawkins discuss what’s going on.