In the latest economic update video, senior economist Teunis Brosens tells why ING economists revised down growth prospects in many countries for both this year and next – and he says economic prospects are now largely in the hands of policymakers.
Hold on interest rates – and a possibility of more “money printing"
Brosens says European Central Bank (ECB) rate hikes are “off the table” this year and next. “The ECB could even start to cut rates again,” he says. Meanwhile in the US, Brosens expects a further round of quantitative easing to be announced this year.