Research Detail
| 2024/03/01 / Erste Group Research |
Will ECB set new course? An important meeting of the ECB Governing Council is coming up next week. Although a change in key interest rates can be virtually ruled out, the course could be set verbally in the direction of a first rate cut. The current key wording in the Governing Council's press release signals to the markets that key interest rates have probably peaked. We expect an amendment here and a text that prepares the markets for a foreseeable first rate cut. This week, Statistik Austria published an estimate of Austrian GDP growth in 2023 and GDP components of 4Q23. According to this, the Austrian economy contracted by -0.8% y/y in 2023, which is in line with our expectations (-0.7% y/y). The decline in economic output amounted to -1.7% y/y in 4Q, whereby the development stagnated compared to the previous quarter (+0.0% q/q). |
 Download PDF (189kB)
|
General information
| Author | Erste Group Research |
| Date | 2024/03/01 |
| 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 | - |
| Download |