Monthly Video by CIO Florent Bronès: Solid economic fundamentals in 2018

In 2018, the global economy should continue to grow at the same rate as currently, at around 2.1% for mature economies and 4.8% for emerging economies. It is a moderate but solid growth thanks to synchronisation. Leading indicators continue to point to a strong growth and we do not see any change in the current trend. Monetary policy will have an impact on US economic growth only in 2019 when the fiscal stimulus package, currently under discussion, will have a moderate impact. It will be a positive impact in 2018 but it will explain part of the slowdown in 2019. So that is why we think that 2018 will be the peak year in terms of global economic growth.