There are also many external risks and uncertainties around our outlook, including geopolitical developments and the rise of protectionist sentiment in some parts of the world. The evolution of the neutral rate of interest is also a topic of significant debate in the profession. We have been talking about these uncertainties for some time.
The improving U.S. outlook is affecting global bond, equity, and currency markets. •  Growth in other regions is evolving largely as projected in October. •  Global trade growth plunged after 2011, but is poised to recover as global demand strengthens. •  In Canada, economic growth improved in the second half of 2013.