Ross Walker, economist for global banking and markets at RBS in London, was in the Island this week to speak to clients and staff about the current credit crunch.
Mr Walker said: ‘In the context of the recent market disruption the message has been that there will be some slowdown, but at this stage we think it will be a soft landing.
‘In growth terms, the UK averages between two and a half and two and three quarter per cent.
This year it will be quite good, up to about three per cent.
But in 2008/9, which is the customer focus, we’re looking for 2.
% – a bit less than average.
‘Conditions will be a bit tougher, but even if the economy has two years of two per cent growth, it is still growth,’ he observed.
