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2020/03/13 / Erste Group Research

Week ahead | Eurozone in recession

The WHO has declared the worldwide COVID-19 outbreak as a pandemic because of its rapid spread and called on states to take extensive measures to contain the virus. As a result, almost all European countries have started to expand their quarantine measures, some of them drastically, in the course of this week. As a result, we expect the Euro-Zone to slide into recession in the first half of this year. For 2020 as a whole, we expect Eurozone GDP to fall by 0.5%.

The attention of the global financial markets will focus on the Fed's monetary policy decision next week. In our view, the Fed will have to weigh up what makes sense in the medium term and what the markets demand in the short term. We expect a rate cut of 50 basis points - less than the market.

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General information

AuthorErste Group Research
Product nameWeek ahead
Topic in focusMacro/ Fixed income
Economy in focusEurozone, United States
Currency in focusEuro, US Dollar
Sector in focus-


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