Marc-Antoine COLLARD, Chief Economist, Head of Economic Research, Asset Management, Europe
Confidence in a 2020 growth rebound, in the wake of fading geopolitical tail risks and the effective transmission of central bank easing to global financial markets, has gained momentum among market participants. Nonetheless, uncertainty remains as to how much of the recent stabilisation/improvement in business sentiment surveys is due to temporary factors, not to mention the long-running debate over the merits, efficacy and risks of monetary easing in a world of already-low rates and elevated central bank balance sheets.
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