Big banks predict global growth will stall this year, but believe the Federal Reserve’s dovish approach has improved riskier asset outlook and bolstered U.S. economy hopes.

Europe’s expectations are less clear due to the European Central Bank and Bank of England’s higher-for-longer rates approach.

U.S. consumer prices increased 3.4% in December, dampening hopes for a March interest rate cut.

The Fed’s policy rate remains in the 5.25%-5.50% band.