Global Economic Outlook

Global Economic Outlook each quarter summarises the forecasts and outlooks of international institutions and selected central banks for the euro area, Germany, the USA, China, the United Kingdom, Japan, Russia, Poland and Hungary. It also provides an overview of the latest monetary policy developments in these territories. Each issue additionally analyses a selected topic significantly affecting the world economy or having an academic subtext. Central Bank Monitoring will be incorporated into Global Economic Outlook starting from 2025.

GEO
April 2025
The tariff increases on imports of goods to the USA, introduced by the US administration, have raised concerns about an escalation of global protectionism, and central banks are having to find ways to stabilise inflation amid this uncertainty. Further details can be found in the April issue of GEO, including a chart illustrating trends in bond markets. A significant increase in yields was recorded in April, mainly by US bonds. The thematic analysis focuses on outward foreign direct investment from small open economies, based on an analysis of the two largest global investors – the USA and Germany. Details (pdf, 1.4 MB)

2025

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.

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