Switzerland’s central bank keeps monetary policy unchanged while forecasting low inflation in 2026.

The ranks of the hawks are growing, even as the US Fed focuses on downside risks.

As 2026 approaches, investors face rising protectionism, geopolitical fragmentation, and market instability. Morningstar CEO Kunal Kapoor is joined by Morningstar’s global market strategists to explore the trends shaping portfolios in the year ahead.

US Fed officials are wrestling with signs of a slowing economy and sticky inflation.

The Financial Policy Committee concluded the UK banking system is both resilient and able to support growth.

Inflation at 0% is unlikely to persuade the SNB to make a move on rates this month.

With the US Fed poised for two more cuts and the ECB potentially turning hawkish, Nuveen’s Laura Cooper highlights where European bond investors can find value next year.

Service providers reported lower consumer confidence and subdued business activity.

At 2.2%, overall inflation in November came in higher than in October and slightly above expectations, while core inflation was unchanged and in line with forecasts.

Inflation is expected to remain close to target, meaning the ECB is unlikely to change interest rates.