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Members and guests of the British Chamber of Commerce in Germany’s North Rhine-Westphalia Region and of the Deutsch-Britische Gesellschaft and IWR, Düsseldorf are cordially invited to spend an evening in the Industrie-Club, hosted and generously, supported by HSBC Germany (“HSBC”).
Many central banks in the Western world have increased key interest rates over the last year or so at an unprecedented speed to reign in record high inflation. This “monetary medicine” appears now to be working with inflation pressures recently easing from the peaks hit in autumn 2022 with the kind help of reducing energy prices. The western economies, however, are now increasingly feeling the impact of this bitter pill, with a tighter monetary environment weighing on demand for loans from both companies and households. Some housing markets are suffering badly, undermining construction activity and increasing delays in business fixed investments can be observed as capacity utilization rates are declining. This leaves predominantly the hope that private consumption can weather the higher rates and continue to support economic activity. Amid these challenging circumstances, what are the consequences for economic growth in Germany, the Eurozone, UK and the US? And could we see central banks making a U-turn in policy soon?
Again, the BCCG is delighted to have HSBC host as in past years a “New Year Outlook” event for our members and guests as well as those from the DBG. As in prior years Stefan Schilbe, the Chief Economist of HSBC Germany will give his views on the major trends expected to impact the economic year ahead.
We are also thrilled that the CEO of HSBC Germany, Michael Schleef, has agreed to both host the event on behalf of the HSBC but also assist in the moderation of Q&A from the floor on the manifold questions we expect our speakers to raise in our audience.
The evening will be held at the Industrie-Club, Elberfelder Str. 6, Düsseldorf, and will include a short reception before and after the main event for those attending.
Our Program:
18:30 h: Arrival
19:00 h: Welcome by Michael Schleef, CEO HSBC Germany
19:10 h: “U-turn or more rounds of bitter medicine – the outlook for the coming year” – Speech by Stefan Schilbe
19:40 h: Q&A moderated
20:00 h: Drinks and snacks with networking opportunity
We hope that you will be able to attend and look forward to seeing you on the evening.
Participation Notes:
Free cancellations are only possible until 4 January and only in written form.
Please note that photographs and footage might be taken at this event, which will be used for marketing and publicity in our publications, on our website and in our social media channels. Please contact us, if you have any concerns or if you wish to be exempted from this.
Yours sincerely,
Guy Street
Mark Roberts
Co-chairmen BCCG NRW Region
British Chamber of Commerce in Germany
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