德意志银行：2025宏观经济、市场动态与技术变革：首席财务官与企业战略决策指南（英文版）（23页）.pdf

1、Macro,Markets&Tech:A guide for CFOs and CorporatesNovember 5,2025Marion Laboure|Camilla Siazon|Luke Templeman|Adrian Cox|Jim ReidIMPORTANT RESEARCH DISCLOSURES LOCATED IN APPENDIX 1.Deutsche Bank Research InstituteDeutsche Bank ResearchMarion Laboure/Camilla Siazon/Luke Templeman/Adrian Cox/Jim Reid

2、2Introduction:Macro,Markets&TechA guide for CFOs&CorporatesWere pleased to share our latest Guide for CFOs and Corporates,providing essentialinsights into macroeconomics,markets and technology.This report offers critical analysisand perspectives to help corporate clients navigate todays complex econ

3、omic environment.Key highlights:Macroeconomic outlook:Global growth projections,central bank policies,key risks,and takeaways from the ongoing tariff uncertainty and heightened geopolitical conflicts across Europe and the Middle East;including a table with our latest 2026 DB forecasts on growth,infl

4、ation,rates,and other key market metrics.Market analysis:FX;funding costs;and commodity market risks and management strategies.Geopolitics:Ongoing conflicts across Europe,Asia and the Middle East;how markets may be underestimating areas ripe for geopolitical flashpoints;strategic issues of semicondu

5、ctors and rare earths;and CEO reaction functions.The future of monetary policy:Updates on central bank policy rates and the rise of stablecoins.Artificial Intelligence:US vs China tech competition,corporate outlook on AI adoption and AI disruption in the workplace.*We value your feedback and are eag

6、er to make future editions even more helpful.Please email us any suggestions for topics or areas youd like to see covered in the next release.*01.ForecastsDeutsche Bank ResearchMarion Laboure/Camilla Siazon/Luke Templeman/Adrian Cox/Jim Reid4DB 2026 forecastsGDP Growth(%)20242025F2026F2027FGlobal3.3