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Market insight: Global slowdown

Over the past decade, the world economy has been stimulated by an expansionary monetary policy with low policy rates. Increased fiscal stimuli, particularly in the US, has also contributed positively to global growth, not least last year’s tax cuts and increases in expenditure.

As the global economy has strengthened, the central banks have reduced their stimulus packages and more central banks have begun to raise their policy rates. The global economy, which reached its peak last year, is now slowing down. In addition to this, risks such as a global trade war, a rapid slowdown in growth in China, a sovereign debt crisis in Italy and a no-deal Brexit have all increased in recent times.

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Date: 11 Apr 2019
Size: 4.7 MB(pdf)