Risks Ahead As Policies (And Money) Tighten in '06.

This article presents an outlook of the world's major economies in 2006. The Federal Reserve has significantly tightened monetary policy in the U.S. The European Central Bank raised interest rates in December 2005 for the first time since 2000. The Bank of Japan is expected to embrace a tightening of policy, by cutting back on its purchase of government bonds from Japanese banks.