Research Detail
| 2024/09/06 / Erste Group Research |
Next interest rate cut by the ECB The ECB Governing Council will meet next week to decide on future monetary policy. Like the market, we expect a rate cut of 25bp. The economic data of recent weeks points relatively clearly in this direction. The economy in the Eurozone is only slowly picking up speed, especially considering the previous weak phase. Inflation data is moving in the right direction, even if risks remain. Statistics Austria published national accounts figures for the second quarter this week. According to the figures, Austria's gross domestic product (GDP) contracted by -0.6% y/y, marking the fifth consecutive quarter of y/y decline. In view of this development, which fell well short of our expectations, we are now forecasting GDP growth in Austria to stagnate this year (+0.0% y/y; previous +0,2% y/y). |
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General information
| Author | Erste Group Research |
| Date | 2024/09/06 |
| Language |  |
| Product name | Week ahead |
| Topic in focus | Macro/ Fixed income |
| Economy in focus | Eurozone, United States |
| Currency in focus | Euro, US Dollar |
| Sector in focus | - |
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