In this podcast, our Chief Economist Patrice Gautry talks about the UBP Global Investment Committee’s views on economic growth, inflation, and interest rates in 2025.
Patrice anticipates global growth will remain resilient, though fragmented. The United States stands out as the most appealing market, driven by expected economic stimulus under the new Trump administration. In Asia, stable growth prospects are supported by the dynamism of India and ASEAN nations, while China remains a source of risk. Europe presents a mixed picture: while Switzerland and the Nordic countries are showing signs of recovery, uncertainties linger in France and in particular in Germany with its upcoming federal elections. Meanwhile, the escalating threat of a trade war and the global race for technological dominance are set to heighten competition across regions and nations.
While the world celebrates the apparent taming of inflation, Patrice warns that the victory over inflation is only partial and far from definitive.
In his analysis of monetary policy, UBP’s Chief Economist provides his outlook for interest rates, pointing out that central banks will not cut key rates as much as markets expect.
