The global economy is evolving largely as expected. With little impetus from emerging markets, the bulk of the acceleration in growth this year is expected to come from advanced economies.
Weaker euro, lower oil prices and monetary policy stimulus, brighten prospects for the euro zone for 2015. However, uncertainty about Greece's future in the currency area is expected to continue to be a source of financial volatility in the coming months.
According to TD Economics "Global growth is on track to pick up modestly from 3.3% in 2014 to 3.5% in 2015, but emerging markets are expected to post roughly the same pace of growth this year as last, and China's growth target was ratcheted down to 7.0% from 7.5%."
