Our macroeconomic scenario for 2023

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Our Portfolio Advisor Kevin Thozet talks to our Chief Economist Raphaël Gallardo about his global scenario for the coming quarters  - a world economy marked by a sharp desynchronisation of regional blocs  - and why he thinks we are entering a structurally more inflationary environment.

“We have entered into a world with negative supply-side shocks that are structural. This reflects a new geoeconomic order we have entered with the pandemic and the war in Ukraine.”

- Raphaël Gallardo, Chief Economist

* A Goldilocks economy is warm enough with steady economic growth to prevent a recession; however, growth is not so hot as to push it into an inflationary status.

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