
Richard Jeffrey
Chief Economist
Richard Jeffrey was Chief Economist at Cazenove Capital until he retired in January 2018.
08/01/2016
As you will have seen from the headlines, financial markets have had a miserable start to the year. There has been a coalescence of uncertainty in the opening days of 2016 - most dramatically reflected in the recent turbulence in China (and elsewhere) as investors focus on a range of issues, such as:
While a loss of confidence could damage growth in economies such as the UK, we do not believe that industrial economies will grow significantly less quickly in 2016 than in 2015. Indeed, we could see slightly stronger growth in the eurozone and Japan, accompanied by maintained momentum in the US and UK. The present rates of growth may be dull when set against the more ‘exciting’ (but eventually self-destructing) rates that were ‘enjoyed’ prior to the great recession. The financial system, while not fully healed, is a good deal more resilient than it was five years ago.
Chief Economist
Richard Jeffrey was Chief Economist at Cazenove Capital until he retired in January 2018.
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