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Blog Beyond Brexit: Outlook and Risks for the U.K. Economy Beyond Brexit: Outlook and Risks for the U.K. Economy Despite seeing major market swings following the 2016 Brexit referendum, we don’t expect Britain’s departure from the European Union (EU) to have any major economic effects in our baseline outlook for 2021 and beyond. Far more important are COVID-19, fiscal policy, and bigger questions around future productivity growth.
Blog In Europe the Crisis Policy Response Is Substantial, But More Is Likely Needed In Europe the Crisis Policy Response Is Substantial, But More Is Likely Needed The conditions for a relatively quick and robust rebound rest on the success in containing the virus within a reasonable horizon, and a well-calibrated economic policy response.
Blog Fiscal and Monetary Together Fiscal and Monetary Together The Bank of England and the British government both announced easing measures to counter the effects of the coronavirus on the economy – how effective can we expect these measures to be?
Blog The End of the Beginning The End of the Beginning While the election result reduces Brexit uncertainty significantly, it doesn’t eliminate it. Will there be an extension of the transition period? How will any deal affect the economy? In the meantime, UK banks and sterling, especially wounded since the 2016 referendum, still offer value, while low-yielding gilts look unattractive relative to other government debt, such as U.S. Treasuries.
Viewpoints Negative Rates: Negative View Negative Rates: Negative View We believe that negative policy rates could do more harm than good to economies and markets, due to their impact on banks, insurance companies and pension funds, and also a possible adverse effect on consumption.
Peder Beck-Friis Portfolio Manager, Global Macro Share Share Share via LinkedIn Share via Facebook Share via Twitter Share via Email Add Add Download Download Print Print Dr. Beck-Friis is a senior vice president and portfolio manager in the London office. He focuses on identifying global macroeconomic trends, with a particular emphasis on Europe. He is a member of the European Portfolio Committee. Prior to joining PIMCO in 2017, he worked at Goldman Sachs, first within Goldman Sachs Asset Management (GSAM) in New York and later as an economist in London. He has nine years of macro research experience and holds a master's degree and a Ph.D. in economics from the University of Oxford. He received his undergraduate degree in mathematics and economics from the University of Edinburgh.