Report
Central banks are forced to get behind Donald Trump
Donald Trump’s protectionist choices (again in early August 20 19 with the announcement of a 15 % tax on USD 300 billion in Chinese products) have led to a fall in share prices, a decline in growth expectations, and therefore probably in investment expectations , expectation s of further rate cuts by central banks, and fear of a slowdown in global trade. All this has driven central banks to actually lower their interest rates: protectionism is paradoxically a way for Trump to obtain a more expansionary monetary policy.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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