Global central banks re-ignite a “risk-on” environment
Concerns over the health of the global economy have deepened. Most major regions are now expected to expand at a slower pace this year relative to the growth rates observed in 2015. Recognition of the external risks to the United States (US) economy caused a more dovish rhetoric from the US Federal Reserve (Fed), triggering a slide in the US dollar, while the European Central Bank (ECB) and Bank of Japan (BoJ) eased monetary policy further in 1Q16 amid serial disappointment on growth and inflation prospects.