Scenarios, risks and macroeconomic forecasts - March 2025

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This part of our website is for the attention of Professional¹ Investors, Intermediaries marketing to non-U.S. persons², and Institutional Investors. In the European Union, it is not for non-professional investors as defined by MIFID or in each local regulation for the general public. This website is solely for information purposes.

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_{1 The "Professional" investor as defined in Directive 2004/39/EC date 21 April on markets in financial instruments (MIFID).
2 The full definition of "US Person" is included in the legal/general conditions of access to the website.}