Week in Focus

13 December 2024: Risks to our 2025 outlook

Four weeks ago, we published our outlook for 2025. Today we are analyzing whether things could turn out differently. For example, we are looking at whether the Fed will raise interest rates due to higher inflation as a result of tariffs, whether the eurozone will slide into recession and deflation fears will arise again or whether the high level of government debt in countries such as France will trigger a crisis.

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