Experts at Julius Baer expect that in 2018 global GDP will grow by 3.8%, and in 2019 economic growth will slow to 3.6%. A slowdown in GDP growth will also be observed in the United States - from 2.9% this year to 2.8% next year and in the eurozone from 2.1% to 1.7%. The Chinese economy will also slow down its growth from 6.5% in 2018 to 6.2% in 2019. Experts note that the United States maintains the leading position in economic growth indicators, and point to a decline in eurozone indicators. At the same time, there is an active slowdown in developing countries. Julius Baer predicts that the Federal Reserve will continue to raise the key rate to 3.5% per annum by the end of the year. They also expect tightening of credit conditions by the European Central Bank and the Bank of England in 2019. In their opinion, the ECB will raise the rate to 0.25% per annum, the Bank of England - to 1% per annum.