Vanguard economic and market update

28 January 2020 | Markets and Economy


 Vanguard economic and market update

Vanguard's key points:

  • Signs that global trade is beginning to stabilise have emerged, but we are not confident of a significant bounce-back.
  • We are more bearish than the consensus on our growth outlook for the United States, the United Kingdom and China.
  • We anticipate a modest easing of monetary policy by the US Federal Reserve, the Bank of England and the Royal Bank of Australia in 2020.
  • In the UK, we have shifted our base case for interest rates from no change to a 25 to 50 basis point cut this quarter.


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