“Inflation prints will probably come down in 2023 but we see little room for strong global GDP growth as long as the
global economy is running close to capacity. We expect Europe to take the brunt of the hit, given its exposure to
cyclical industries and large commodity imports.”
“We expect monetary policies to remain tight and price levels to stay high for a number of years, and the European
economies look particularly challenged in this environment.”
“Forecast: 0.99 (1M), 0.98 (3M), 0.96 (6M), 0.95 (12M), 0.93 (end-2023).”