The view that global growth rates will rise somewhat is consistent with the forecasts of international institutions. For example, according to the July 2019 World Economic Outlook Update released by the IMF, global growth is forecast at levels exceeding 3.0 percent for 2019 and 2020, although the projections for both years were revised downward from those made in April 2019 (Chart 1). B.
On behalf of the G10 governors and supervisors, I would like to warmly thank all of those organisations and individuals who contributed to the process and supported the work of the Basel Committee by sharing their views over the years. I welcome now the remarks of my colleague, Jaime Caruana, Governor of the Bank of Spain and the Chairman of the Basel Committee.