2025 Mid-Year Economic and Market Outlook: The art of desensitisation

26 June 2025

In his Mid-Year Outlook, Ric Deverell, Macquarie's Chief Economist and Head of Net Zero, talks about the impact of US trade tariffs and policy uncertainty on markets and the global economy. He says that whilst global growth has proven relatively resilient over the past year, it is being challenged by the tariffs potentially unleashing the biggest trade shock in history. He also discusses the impact on bond and foreign exchange markets, and says that though Australia will be affected, it is in a better place than many other countries to weather the impact.