Citi economists expect ‘acute financial stresses’ to ‘continue to recede,’ but they still see ‘chronic challenges associated with higher interest rates.’
Citi however, cuts its global economic growth forecast for next year to 2.1%, from the 2.5% expected previously.
“While the acute phase of the banking tensions appears to be abating, we continue to see chronic challenges associated with higher interest rates and, more broadly, the implications of this episode for bank assets, deposits and funding, and bank margins,” said Sheets.
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