The global economy has weathered the new U.S. administration's sweeping challenges to the status quo with surprising aplomb given serious threats made to world trade, but what is not so clear is how much longer inflation will remain stubbornly low. Ciara Lee reports
Very little has been able to trump Trump so far this year - this week is unlikely to be any different. After promising to announce a tax reform plan many are hoping for more of the same, although Janet Yellen addressing Congress for the first time since Trump took office could be a distraction. (SOUNDBITE) (English) CHRIS BEAUCHAMP, IG, MARKET ANALYST, SAYING: "We really want to see whether we get any further detail on the tax plan that Trump's announced. We also really want to see how monetary policy pans out. Now we've had a sort of quieter period in the past week or so from policy makers, but they're about to sort of come back to the stage as we prepare for the next round of meetings in the next few weeks." Inflation likely to be high on the agenda for most. Nearly a decade after the start of the financial crisis and an avalanche of monetary stimulus since then, inflation is only now close to the key 2 percent many central banks target. In Europe the economic outlook has been brightening. Greece is hopeful that international lenders will approve reforms required under its bailout. Finance ministers will meet on February 20th to sign off on the agreed reforms. (SOUNDBITE) (English) CHRIS BEAUCHAMP, IG, MARKET ANALYST, SAYING: "There seems no sign of leadership at the moment. Angela Merkel crucially the one who tends to bang heads together and get things done in these situations, is having to play her cards very carefully because of the election later this year." And it's not just Merkel's election. A spate of votes this year threaten to change Europe's course. They normally scare off international investors. Not so for some U.S. investors who seem willing to place wagers on an uncertain Europe They're buying into the continent's stocks - and trimming their stakes in the U.S. - in the hope bargain hunting will pay off.