Risks to the global economy leave investors cautious

- "In the past month, financial markets have been hit with a bad case of the jitters on worries that the global economy will not be able to withstand the implementation of fiscal austerity measures in Europe and slowing growth in some emerging economies. Central bankers too have assumed a more cautious tone with both the U.S. Federal Reserve Board and the Bank of Canada pointing to risks to the outlook coming from developments abroad. While we have not changed our baseline forecasts for U.S. and Canadian growth or inflation, recent events suggest that downside risks to the growth outlook have risen leading us to revise the timing and magnitude of tightening in some countries."
RBC Financial Markets Monthly July2010

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