impacts from higher trade barriers, as well as robust technology-related investment and its positive spillovers. With CPI inflation broadly in check, the 2025. The Fed's further monetary easing this year is widely anticipated by the market. The extension of tax breaks and other measures announced in mid- 2025 should also render support to the economy.( disputes over tariff measures, multiple ongoing trade investigations, and potential policy shifts amid US mid-term elections will continue to pose uncertainties. As for the euro area, growth is expected to remain steady in 2026. Germany, France and Italy are expected to pick up somewhat, and Spain continues to show resilience, reflecting reduced trade policy uncertainty and lower energy prices. Bank's target. The market generally expects the policy interest rate to remain unchanged in the near term. The IMF projected in January that the euro area economy would grow modestly further by 1.3% in 2026, after growing by 1.5% 2026, on the back of positive merchandise exports outlook and solid domestic 1. Most of these economies have reached preliminary trade agreements with the US, and sustained global demand for electronic products is expected to render support to their export performances. The IMF projected in January that the ASEAN-5 to grow by 4.2% in 2026, the same as the estimated growth in 2025. India is to expected to expand by 6.4% in fiscal year 2026/27, after an estimated growth of 7.3% in the preceding year.