The Bank projects that, although it is subject to considerable uncertainties, the growth rate will rise moderately through mid-2020. According to the latest World Economic Outlook (WEO) released by the IMF, the global growth rate for 2019 is projected to decline to 3.0 percent and thereafter recover to 3.4 percent for 2020, which is around the past average (Chart 1).
2/4  BIS central bankers' speeches  On the other hand, those who choose to “stay home” so to speak, are not necessarily shielded from heightened competition. Indeed, banks need to have a good competitive strategy even if they are not immediately aspiring to be QABs. We have seen how foreign banks that enter our market reshape competitive forces.