Every month, our economists study the macroeconomic situation. They analyse the events that have had an impact in recent months, and discuss possible consequences.
A changing of the guard…
- Political change appears to be intensifying around the globe and this will only heighten the uncertainty for financial markets.
- In the US the Democrat mid-term election gains could curtail President Trump’s legislative agenda with the risk that he steps up his attacks on trade partners.
- The Italian fiscal saga continues with the government at loggerheads with the EU while Angela Merkel calling time on her German Chancellorship could create a political vacuum at the heart of Europe.
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