EFTA Document EFTA01459555

CIO View Special hmt.art*torel Fatuity 2016 Conclusion Lower oil prices would normally be expected to benefit the global economy through aiding both consumers and corporates in oil-importing economies. We remain constructive on global growth, hut there is still some risk of the benefits of lower oil prices being overshadowed by continuing financial-market turbulence. Perhaps most importantly, lower oil prices have reopened the Pandora's box of concerns about the longer-term negative side