Uncomfortably Low Inflation

“In response to uncomfortably low inflation, we expect ECB to deliver more easing, probably starting with 15bp cut to deposit rate to negative 15bp in April. We look at the funding market for small and medium-sized enterprises arguing that the ECB could have a greater impact on growth by intervening directly in SME securitizations.” (Goldman Sachs)

Euro Area Inflation

Euro Area Inflation (1)

Euro area credit and investment growth remains very subdued. The most pressing problem, finding customers.

Euro Area Inflation (2)

European Unemployment.

European Unemployment

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