Nov 16 (Reuters) - Some of the major banks in the world
expect global economic growth to slow further in 2024, squeezed
by elevated interest rates, higher energy prices and a slowdown
in the world's two largest economies.
    The global economy is forecast to grow 2.9% this year, a
Reuters poll showed, with next year's growth seen slowing to
2.6%.
    Most economists expect the global economy to avoid a
recession, but have flagged possibilities of "mild recessions"
in Europe and the UK.
    A soft-landing for the United States is still on the cards,
although uncertainty around the Federal Reserve's monetary
tightening path clouds the outlook. China's growth is seen
weakening, exacerbated by companies seeking alternative
cost-efficient production destinations.
    
    Following are forecasts from major global banks:
     
             Real GDP growth forecasts for 2024
 
          GLOBAL  U.S.    CHINA    EURO      UK       INDIA
                                   AREA               
           2.60%   2.10%    4.80%     0.90%     0.6%    6.3%
                                                      
 Goldman                                              
 Sachs                                                
                                                      
                                                      
           2.80%   1.90%    4.20%     0.50%             6.4%
                                                      
 Morgan                                        -0.1%  
 Stanley                                              
                                                      
                                                      
 UBS       2.60%   1.10%    4.40%                           
                                      0.60%                 
                                                0.6%    6.2%
                                                            
                                                            
    
                 U.S. inflation (annual    Federal funds
                 Y/Y for 2024)             target rate (Dec
                                           '24)
                 Headline CPI    Core PCE                  
 Goldman Sachs          2.40%       2.60%             5.13%
 Morgan Stanley         2.10%       2.70%            4.375%
 UBS                    2.70%                         2.75%
 Wells Fargo            2.50%       2.60%                  
                                                4.75%-5.00%
                                                           
        The Fed's main rate currently stands at 5.25%-5.50% 
    
                 S&P 500   US 10-year  EUR/USD   USD/JPY  USD/C
                 target    yield                          NY
                           target                         
 Goldman Sachs       4700       4.55%      1.10   150.00   7.15
 Morgan Stanley      4500                     1      140    7.5
 UBS                 4600       3.60%      1.15      130   7.15
 Wells Fargo     4600-480              1.08-1.1  136-140       
                        0   4.75%-5.2         2           
                                   5%                     
                                                          
 
    As of 0750 GMT on Nov. 16, 2023:
    S&P 500: 4502.88
    US 10-year yield: 4.4941%
    EUR/USD: 1.084
    USD/CNY: 7.255
    USD/JPY: 151.38

 (Compiled by the Broker Research team in Bengaluru; Editing by
Saumyadeb Chakrabarty)