The stagflation risk in Europe In Western countries, there is renewed risk of stagflation. Uncertainty related to the conflict could lead to delayed investment or consumption expenditures weighing on the…
Low interest rates reflect the combination of fiscal and monetary policies. This is already translating into severe financial repression. Governments, more than central banks, will have an interest in a…
Growth is doomed until uncertainty about the magnitude, duration and contagion of the epidemic is reduced. The responses, although rational, accentuate the risk of recession. Economic growth will frankly slow…
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