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March 2016 - WEAK GROWTH, LOW INTEREST RATES… WHAT’S THE LIMIT?

The slower growth of emerging countries in 2015 has given way to a moderation in the growth rate of developed countries. Therefore, global growth is not expected to accelerate in 2016. Accordingly, central banks continue to call the shots and have accentuated the ultra-low interest rate environment, raising the issue of its effects on activity and financial markets participants. This issue is especially relevant given the expansion of an unprecedented phenomenon: negative interest rates.

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