March saw global markets navigating a more uncertain environment, as geopolitical tensions and rising energy prices reshaped market expectations.

In Canada, inflation continued to moderate, while domestic demand remained fragile. In the United States, energy-driven price pressures and slowing growth added complexity to the policy outlook.

Europe faced renewed inflation alongside uneven growth and rising trade risks. The United Kingdom continues to balance persistent inflation with softening labour market conditions.

In China, weak domestic demand contrasts with resilient exports and stable growth targets.