Steady global growth and low inflation means we remain in a Goldilocks environment where activity is neither too hot nor too cold.
In this month's infographic we look at the pros and cons of low inflation and balance sheet reduction, the state of the UK economy and the outlook for global trade.
Low inflation is harrying the hawks, and is keeping the Fed cautious as it looks to reduce its balance sheet.
The combination of balance sheet reduction and low inflation suggests there may not be another rate hike in 2017.
European equities remain a recovery story, says Rory Bateman in his latest EuroView. He discusses recent positive economic data as well as banks, Brexit, and fund flows.