Oliver Mangan: Central banks are on the verge of pulling off a soft landing

The hikes in interest rates over the past two years have yet to fully impact economies

Despite falling inflation, many people are still facing cost-of-living pressures.

Last year was a challenging year for the global economy as it contended with rising interest rates, cost-of-living pressures and slower growth. However, it was not without some bright spots. 

Employment continued to expand, with unemployment rates remaining very low in all the main economies. Inflation fell sharply over the year, with the headline consumer price index (CPI) rates declining to 2.4% in the Eurozone and 3% in the US towards the end of 2023.