Jesch said that despite recent market volatility, the Banco Central may continue on its expected policy path. In a report, he stated that Banco Central is unlikely to have a panic-driven reaction and expects it to avoid signaling major policy changes, such as a 50 basis point rate cut or an emergency rate cut between meetings. He expects the Banco Central to stick to a gradual easing approach, starting in September, with successive 25 basis point rate cuts over the next few months. While the possibility of an economic recession in the United States cannot be ruled out, considering the overall strength of the economy and the robust balance sheets of the private sector, any recession that does occur is likely to be mild. DWS does not believe that a Bear Market is imminent, but will closely follow indicators that reflect systemic risks.
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Jesch said that despite recent market volatility, the Banco Central may continue on its expected policy path. In a report, he stated that Banco Central is unlikely to have a panic-driven reaction and expects it to avoid signaling major policy changes, such as a 50 basis point rate cut or an emergency rate cut between meetings. He expects the Banco Central to stick to a gradual easing approach, starting in September, with successive 25 basis point rate cuts over the next few months. While the possibility of an economic recession in the United States cannot be ruled out, considering the overall strength of the economy and the robust balance sheets of the private sector, any recession that does occur is likely to be mild. DWS does not believe that a Bear Market is imminent, but will closely follow indicators that reflect systemic risks.