ECB’s Strong Four-hand
by AIB Treasury Economic Research Unit
- The Euro area economy has lost considerable momentum since last summer.
- In terms of the available Q2 data, retail sales stagnated in April, meaning they were 2.6% lower in year-on-year terms.
- Regarding inflation, the headline HICP rate has fallen sharply from its peak of 10.6% last October.
- The ECB hiked its key deposit rate by a further 25bps to 3.5% at Thursday’s Council meeting.
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