We expect growth to continue to slow in the near term, followed by a reacceleration through 2025, which should foster a favorable environment for risk assets globally.
Executive summary
Many of the world’s central banks, having largely succeeded in curbing inflation, are now easing monetary policies with the aim of stimulating growth. In 2025, we anticipate signs of economic deceleration to be counteracted by the supportive impact of the global rate-cutting cycle. In other words, we think we are seeing a soft landing.
We expect a near-term growth slowdown followed by a reacceleration through 2025. This should create a favorable environment for global risk assetsR
