(QE2) The global financial markets are likely to react extremely sensitively to the direction of the US Fed’s monetary policy ahead of the expiry of the second quantitative easing at the end of next June. –  Market attention may well focus on whether or not there will be further quantitative easing (QE3).
3  Commodity markets International oil prices are forecast to maintain their upward trend in line with the continued recovery of the world economy and the increase in global liquidity.   Next year demand for crude is likely to surpass supply albeit only by a small margin, led by the emerging market countries (+500,000bpd).