- Fitch: Trade war causing collateral damage to global economic outlook
Market news
17 June 2019
Fitch: Trade war causing collateral damage to global economic outlook
- World growth forecast for 2020 has been lowered despite our base case that assumes further U.S. tariffs on China are avoided
- Trade war is weighing on investment prospects and has sharply increased downside risks to world economic growth forecasts
- U.S. Fed expected to leave interest rates on hold in 2019
- Central bank responses will not fully compensate for impact of rising trade uncertainties
- For other EM, trade concerns are also impeding benefits of looser global monetary conditions on capital inflows
- On ongoing trade war, says while eurozone looks likely to avoid recession, growth outlook remains weak
- World growth is expected to fall to 2.8% this year from 3.2% in 2018
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