Since our last meeting in October, the global growth outlook has improved somewhat, reflecting revised growth prospects across both advanced and emerging market economies. The disinflationary process has continued amid falling energy prices, the normalisation of supply conditions and tight monetary policy. While the global economy has weathered the tightening of monetary policy well, growth prospects remain subpar by historical standards. Risks to the global outlook are broadly balanced for both economic activity and inflation, though rising geopolitical tensions pose an upside risk to inflation and a downside risk ... (full story)