UBS chief economist Arend Kapteyn predicts that the economic growth acceleration in 2027 will be mainly driven by investment in AI infrastructure. He expects capital expenditure of hyperscale cloud vendors to reach 1.75 trillion US dollars next year, but public opposition to data centers may delay short-term spending, and stock market performance will also have a significant impact on predictions. He also anticipates that as the inflationary impact of tariffs, energy and memory chip prices gradually subsides, the macroeconomic environment in 2027 will be more and more conducive to a decline in inflation. Monetary policy will only be tightened slightly, and the previous rate hike will be reversed in 2028.

UBS chief economist Arend Kapteyn predicts that the economic growth acceleration in 2027 will be mainly driven by investment in AI infrastructure. He expects capital expenditure of hyperscale cloud vendors to reach 1.75 trillion US dollars next year, but public opposition to data centers may delay short-term spending, and stock market performance will also have a significant impact on predictions. He also anticipates that as the inflationary impact of tariffs, energy and memory chip prices gradually subsides, the macroeconomic environment in 2027 will be more and more conducive to a decline in inflation. Monetary policy will only be tightened slightly, and the previous rate hike will be reversed in 2028.