The global economy has lost further momentum. How do you think monetary policy will react?

How is the slight cooling of the global economy affecting monetary policy and the markets?

How is the global economy developing and what is the situation with interest rates in 2019?

For 2018, we expect global economic growth of 3.5%. In 2019, we expect growth to cool slightly. The exporting nations are suffering from the protectionist measures of the US government.

Executive Summary We expect the global economy to grow by 3.5% in 2018. In the USA in particular, the growth figures for the second quarter are likely to surprise on the upside. The economic upswing in the eurozone is losing some steam. Exporting nations are suffering from the US government's "trade skirmishes". In the short term, however, the risk of recession remains low. The procyclical US fiscal policy is ruining the US national budget in the medium term. We expect in [...]

We expect the global economy to grow by around 3.5% in 2018. The upswing will lose momentum slightly, especially in the euro zone.