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Janet Mui: 2019 second quarter update

Central banks are becoming more supportive as trade tensions persist and global growth continues to slow.



Janet Mui
Global Economist, Cazenove Capital
  • Global central banks have become increasingly accommodating amid signs of slowing global growth and trade tensions
  • The Federal Reserve is expected to cut rates this year, while the ECB is exploring monetary policy easing options
  • Growth will continue to slow in the second half of 2019 but we do not expect a recession
  • US-China conflicts will re-emerge later this year as underlying tensions over trade and technology remain, despite the recent truce

This article is issued by Cazenove Capital which is part of the Schroders Group and a trading name of Schroder & Co. Limited, 1 London Wall Place, London EC2Y 5AU. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. 

Nothing in this document should be deemed to constitute the provision of financial, investment or other professional advice in any way. Past performance is not a guide to future performance. The value of an investment and the income from it may go down as well as up and investors may not get back the amount originally invested.

This document may include forward-looking statements that are based upon our current opinions, expectations and projections. We undertake no obligation to update or revise any forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements.

All data contained within this document is sourced from Cazenove Capital unless otherwise stated.


Janet Mui
Global Economist, Cazenove Capital


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The value of your investments and the income received from them can fall as well as rise. You may not get back the amount you invested.