Higher rates and slowing growth pose bigger threat than geopolitics; India's growth steadier
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Delayed impact of higher interest rates on economies is a bigger threat for markets than geopolitics, says Mark Matthews of Julius Baer.
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Don't expect a US recession in 2023; growth to slow from 2.2% this year to 1.1% in 2023.
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Fed expected to stop rate hikes, with first cut in Sep 2023; rates to reach 4.5% by mid-2025.
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India GDP growth forecast at 6.1% in 2023, close to RBI's 6.5% estimate.
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H1 FY24 earnings growth in India over 20%; full year around 17%, still strong relative to other markets.