European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau recently crossed the wires arguing that the global economy was decelerating, not necessarily heading into a recession.
Key quotes (via Reuters)
- Hard Brexit is less and less implausible.
- We need to assess the extent to which the recent slowdown and drop in inflation are temporary.
- If drags fade away, and if geopolitical risks recede, GDP growth could rebound from next spring or summer.
- Should a downturn last beyond that horizon we would be ready to adapt our monetary policy guidance.