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Inflation continues to creep higher and is close to or at 2% in major developed markets, although core measures of inflation remain below target.
Despite slower-than-expected March-quarter growth in the US, there are signs of a stronger June quarter, including improved consumer spending and business investment.
Tariff threats between the US, China and Europe are yet to be resolved and risk escalating into a trade war that could damage global trade.
In Italy, the political impasse was finally broken, with a coalition government formed between the two popular right parties, Lega Nord and the Five Star Movement.
Japan’s economy contracted in the March quarter, bringing into question the efficacy of the Bank of Japan’s quantitative easing measures