A marked downturn
The global economy is in for a marked downturn. Central banks are promising action, but their tools are limited. We advocate that fiscal policy, if used wisely, is more effective than monetary policy to counteract the downturn. We expect, however, fiscal stimulus to be too slow and too little. The global economy is at high risk of entering a recession in 2020.
For more information, please contact: Anna Breman, Group Chief Economist, phone:+46703149587