Expansionary economic policy boosts growth

The growth outlook for the global economy is strong. Growth is supported by a synchronized expansion in several key economic regions, accommodative monetary policy, and fiscal stimulus in the United States. China continues to pursue rapid growth, while the accumulation of debt continues. Growth is reducing economic slack in several countries simultaneously, leading to a gradual increase in inflationary pressures. If favourable developments continue, monetary policy in key countries is expected to tighten gradually.