Emerging markets are growth engines: Poole

The global head of macro and investment strategy at HSBC Global Asset Management claimed that monetary policy’s power to boost economies is waning.

Mr Poole added that population ageing could contribute to a “subdued” performance among developed markets.

He said: “Specific challenges include the on-going euro zone crisis, US fiscal adjustment and risks to China’s growth outlook.” He also predicted in the firm’s latest investment quarterly that emerging economies will be challenged if asset price bubbles burst.