Week in Focus

10 January 2025: What to expect in 2025

Politics could have a significant impact on the economy in 2025. Incoming US President Trump is likely to push for even higher tariffs, which could exacerbate the conflict with China. In Germany, the federal elections are likely to lead to a reform of the debt brake, but not to a significant change of economic policy, which is why the economy is unlikely to grow much further. Finally, the central banks are unlikely to succeed in bringing inflation fully under control. We provide an overview of what will be important in 2025.

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