Snippet from
Deutsche Bank, in brief:
base case for 2025 is stronger US growth and inflationhigher FOMC terminal rate than previously expectedopposite
applies to Europe
On the US DB:
assumes modest US
tax cutsstrong deregulation effortsmore supportive
financial conditionsassume a 10%
increase in the tariff rate on imports from China in H1 (ratcheting
up a further 10pp in H2)equalisation of tariff rates on motor
vehicles with Europe
assume a 5% universal baseline tariff (more likely
to be implemented late 2025/early 2026)
This article was written by Eamonn Sheridan at www.forexlive.com.
