Consequently, the analyst is more “guarded” on the timing and quantum of interest rate cuts globally.
Maybank Securities analyst, Krishna Guha, has kept his “neutral” call on Singapore REITs (S-REITs), preferring REITs which can grow rents while inflation continues to “stay above real growth” for the second consecutive year.
The team of economists at Maybank forecasts global growth to drift lower to 2.8% in FY2024 compared to FY2023’s growth of 3.3%. Inflation rates are also likely to have peaked and are moderating, although indicators on inflation expectations remain “sticky”.
