Lorenzo Codogno Remains Quotations

Protectionism remains the major threat to global growth.

Despite oil price tensions and strengthening domestic demand, the inflation performance remains subdued. Barring another oil spike, the headline rate is likely to ease further during the course of the year.

The probability of a February hike looks very small, but that of a tightening in March remains high in our view.

We don't see another rate rise, but we recognize that the risk is still there, due largely to oil prices -- the oil market remains vulnerable for both supply and demand reasons,