Special Dutch version
The global economy has been growing at a moderate rate of around 3 per cent for many years. We expect to see similar growth figures in the coming years. But the election of Donald Trump as president of the United States has hugely raised the level of global uncertainty.
We expect that UK’s vote to leave the EU will negatively affect economic growth in the eurozone. We believe that the impact in 2016 is rather small, but we lower our growth forecast for 2017 for both the eurozone and the Netherlands by ¼%-point.
Banks have raced towards full compliance to the Basel III capital requirements. Adjustment via capital base expansion correlated positively with bank credit supply, whereas adjustment via balance sheet reduction correlated negatively.