Here's what the world's big economies will do through 2016

It's all connected.

From interest-rate hikes in the US to the Greek debt crisis, events within nations affect economies across the globe.

A June report from analysts at Nomura Securities broke down all the changes happening and the prospectus for a variety of important economies.

According to the report, the US should continue its slowing rebound leading to a Fed rate hike in September, while continued low oil prices should prolong Canada's slump.

In Europe, the European Central Bank faces serious pitfalls as it tries to strengthen the Eurozone and is projected to continue asset purchases into September 2016. Analysts are worried that the UK will react too slowly in raising rates which could lead to another crisis.

Asia remains the home to the strongest emerging markets despite the slowdown in Chinese growth. The developed countries of the continent are going in separate directions. South Korea and Australia have weakening economies, while Japan and India are heading in the right direction.

In total, global GDP growth is expected to reach 3.1% in 2015, down from 3.3% in 2014. Global consumer inflation should also slide to 3.2% this year, from 3.6% in 2014.