Nonetheless, global economic  performance is subject to uncertainty of the policy environment associated with the potential for inward-looking and protectionist trade policies as well as geopolitical tensions. Other downside risks emanate from persistence of tight financing conditions in some key markets and subdued commodity prices.
Global inflation is forecast to be 3.3 percent in 2017 as advanced economies reflate to achieve the desired targets and as the effect of the earlier decrease in energy prices dissipates. In emerging market economies, inflation is expected to moderate as the effect of previous currency depreciation tapers off in 2017.