"We expect a prolonged multiyear global expansion. We believe that the moderate pace of global economic expansion implies that there is limited risk that consumer price inflation rates will rise high enough to move central banks to an expansion-killing restrictive policy any time soon."
Chief Economist Richard Hoey presents his
May 2013 Economic Update.
The statements and opinions expressed in Mr. Hoey's commentary are those of Mr. Hoey as of the date of publication, and do not necessarily represent the views of BNY Mellon or any of its affiliates.
Our thought leadership materials are not intended as investment, accounting, tax or legal advice, but to the extent they may be deemed to be a financial promotion under non-US jurisdictions, they are provided for use by professional investors only and not for onward distribution to, or to be relied upon by, retail investors. Products and services may be provided in various countries by the subsidiaries and joint ventures of BNY Mellon. Each is authorized and regulated as required within each jurisdiction. This should not be construed as an offer or solicitation of securities or services or an endorsement thereof in any jurisdiction or in any circumstance that is otherwise unlawful or not authorized.