December closed out 2025 with a global economy still shifting gears, marked by uneven regional momentum but the same underlying theme: uncertainty.
In Canada, headline inflation looks steadier, yet food prices remain a key pressure point, keeping the Bank of Canada cautious.
In the United States, disinflation is progressing, but resilient consumer spending complicates the policy path.
Europe continues to normalize at a measured pace, balancing modest growth with persistent trade frictions.
The United Kingdom is seeing inflation cool faster than activity improves.
In China, exports remain a pillar despite weak domestic demand.
Silver, meanwhile, stood out as the commodity of the month, lifted by industrial demand and tighter supply dynamics.
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