Future of the global economy While the pace of economic recovery has been somewhat slowing since the mid-year, the Bank judges that the recovery trend in the global economy will be maintained. That view is widely shared in many of the forecasts of international organizations and the private institutions.
At the same time, output losses also remained lower than in the USA, demonstrating that a restrictive monetary policy can, in the medium term, prove superior also in real terms. The situation in the USA and in many other industrialised countries was different.