The European central bank will conduct its press conference on January 24 at 15:30 MT time.
Euro zone businesses conclude second quarter with slower surge
As Friday’s survey revealed, roaring euro zone business surge suddenly tailed off toward the end of the first half of this year, thus reacting to an unexpected slowing in the tempo of expansion by services companies.
However, with inflation relatively resilient as well as overall surge sturdy enough, pressure will probably be maintained on policymakers at the ECB in order to pare back soon on their radial loose monetary policy.
Earlier this month, the EU’s key financial institution gave up its bias for more rate drops in a small step towards stabilization.
The PMI actually pointed to second quarter GDP surge of 0.7%, which is faster than the 0.5% forecast in a Reuters survey, earlier this month. The previous quarter the PMIs had correctly showed a 0.6% expansion.
Economic data points to sturdy surge in the euro zone during the second quarter, while inflation will keep to current levels in the nearer months, as the ECB informed on Thursday in a regular economic bulletin.
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