September 2021 economic and market update
Central banks and governments globally, are supportive of economic growth over the next 18 months as we all work towards a “COVID normal”. Employment data has been resilient, but wage growth has been stagnant. Unfortunately, wage growth is needed to kick start the economic recovery. Central banks are downplaying inflation pressures believing they will only be temporary, but at the same time they are preparing investors for when monetary policy will tighten.
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