ECB says Trump is reason for global economy tilting to the downside
Frankfurt — The European Central Bank (ECB) cited the government of US President Donald Trump as a key reason why the risks to the global economy remain tilted to the downside. The Frankfurt-based ECB said in an article from its Economic Bulletin on Wednesday that while some concerns over the prospects for world growth have diminished, such as China’s short-term outlook and the resilience of emerging-market economies, others have appeared. "Since the US election, pressures for more inward-looking policies have risen," it said. "In particular, there is significant policy uncertainty surrounding the intentions of the new US administration regarding fiscal and, especially, trade policies, the latter entailing potentially significant negative effects on the global economy." The ECB said an index of geopolitical tensions, which captures incidents of war, political tension and terrorist attacks, was broadly stable between early 2016 and the start of 2017. It also said that the impact of t...
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