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Monetary tightening is expected to intensify for two reasons, one familiar, the other less so.The familiar reason is the housing market.
More tightening is expected as China's central bank continues its fight against inflation.With Christine Lagarde installed as its managing director, the IMF made other senior appointments.
Continued monetary tightening is expected in December and into next year, as the Federal Reserve ("the Fed") looks to steer an economy that is hitting on most cylinders.
A further tightening is expected when its 2010 budget is announced on December 9th, though uncertainty about the public cost of bailing out its banks remains.
The Fed has been going into overdrive, but even the most aggressive monetary policies are unlikely to reverse the output damage that severe fiscal tightening is expected to cause.
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As the credit markets tighten, capital is expected to become more expensive, causing building values to drop.
Troubles in the U.S. housing market have led to massive write-downs in banks across the world, as a tightening of credit conditions is expected to affect the spending of businesses and individual consumers.
The housing market became a bright spot for the economy last year as prices rose and inventory tightened, and the sector is expected to contribute to economic growth in 2013.
But as the cap keeps tightening, it's expected to have a sharper bite.
Tightening budgets are expected to lead to declines in quality of green spaces, morale, support for park friends and user groups, recruiting volunteers and staffing events.
The new government is expected to tighten immigration policies, reduce the inheritance tax and increase private health care.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com