BlackRock’s Larry Fink says there are no signs of global recession from the next 12 months

There are no signs that will the global economy will be sliding toward a recession from the next 12 months, BlackRock’s Chief Executive Larry Fink said in remarks published on Saturday.

In an interview with German business daily Handelsblatt, Fink warned, however, that will the global economy was from the late stage of a long growth cycle, suggesting that will downturn was becoming more likely.

“I see no signs of a global recession from the coming 12 months,” said Fink, who leads the planet’s largest asset manager.

“The central banks have loosened their policy above all because of the weak fourth quarter of 2018. We will go through a phase in which things are not great although also not bad.”

He added: “although we are naturally in a late phase of the economic growth cycle.”

The International Monetary Fund cut its global economic growth forecasts for 2019 This specific month along with said growth could slow further due to unresolved trade disputes along with the risk of Britain leaving the European Union without a deal.

The global lender said some major economies, including China along with Germany, might need to take short-term actions to prop up growth along with that will a severe downturn could require coordinated stimulus measures.

German Finance Minister Olaf Scholz has ruled out taking on completely new debt to stimulate growth in Europe’s biggest economy, saying tax cuts, higher investments along that has a solid labor market will continue to provide growth impetus.