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Why we are still optimistic

John Redwood, Charles Stanley’s chief global strategist, shares his views on the outlook for the global economy.

When we sat down this week to review world markets and world economies the surprising thing was how few surprises there have been so far this year. We expected the euro to survive its brushes with mortality in the Dutch and French elections. It has done so. We like many have forecast reasonable growth of a little over 3% for the world as whole this year. That seems to be on track. In common with the crowd we looked forward to US rate rises, which are duly materialising. We assumed Japan and the euro area would press on with negative interest rates and more official bond buying.

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