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• Date de création 11/11/2024
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The global economy in October 2024 remained on a moderate path. Annual inflation moderated in October. Food price inflation accelerated somewhat in October. Inflation excluding energy and food is expected to remain above headline inflation for most of the projection horizon, but remains on a downward path. The disinflation process is expected to be supported by easing pressures on labor costs, food and energy prices, and the gradual transmission of recent monetary policy tightening to consumer prices. Weaker international trade, including from heightened trade tensions among major economies, would dampen growth. Growth could also be lower if the lagged effects of monetary policy tightening prove larger than expected. However, it could be higher if inflation declines more quickly than expected and if stronger confidence and rising real incomes lead to larger-than-expected spending increases.

In the commodity market, we noted a decline in copper prices., reflecting the slowdown in China’s economy. On the other hand,Cobalt prices have shown a modest uptrend, rising 0.28% from their closing level at the end of September 2024. Furthermore, crude oil prices displayed mixed dynamics across major benchmark markets. As for the Gold prices have been trending upwards, due to the depreciation of the US dollar in the international foreign exchange market as well as political uncertainty induced by the presidential elections in the United States.