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ABN Amro analysts suggest that even the central banks dovish shift is not a significant enough move to be a strong tailwind for global economy over the coming quarters.

Key Quotes

“We still characterise situation as being one of policymakers taking their foot off the breaks rather than stepping on the gas. These moves will take time to feed through, so the global economy is likely to remain weak near term, with macro and earnings downgrades still in the pipeline.”

“We expect the global economy to regain some traction later in the year, but the improvement is likely to be gradual and moderate. The shift in the stance of monetary policy is not sufficient to trigger the kind of rebound that we saw in 2016-17.”