Sticky core inflation, higher-for-longer interest rates and modest growth are the predicted headlines for the global economy in 2024, raising the spectre of stagflation across markets.

“The good news is that inflation globally has fallen from its previous highs. While it is tempting to attribute this to tighter central bank policy, the textbooks suggest it should take much longer for monetary policy to impact the real economy,” explains Reza Hendrickse, portfolio manager at PPS Investments...

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