Thursday, January 22 | 9 a.m. CST / 3 p.m. GMT.

The global economy looks set to strengthen in 2015 but risks are not insignificant – including the spectre of deflation, geopolitical instability and the weak oil price. The US economy should be a key driver of global growth but other important markets are mired in difficulties including Japan and the eurozone. As was the case in 2014, emerging markets will put in a diverse performance – very much related to their economic fundamentals.

The global economy should see its pace of growth accelerate in 2015:

• Following on from the end of its Quantitative Easing programme in the latter half of 2014, the USA will be the strongest performer of major advanced economies in 2015.
• An environment of economic stagnation, lowflation and potential deflation in the eurozone continues to pose a risk for the global economy.
• The big question for developed economies in 2015 will be regarding when interest rates will be raised from their record low rates.
• India looks set to continue its bounce back, building on 2014’s improving growth picture.
• The Russian economy is facing strong headwinds in 2015 coming under pressure from the Ukraine crisis and low oil prices.