Down, but Not Out
by AIB Treasury Economic Research Unit
- The Eurozone is Ireland’s biggest trading partner, accounting for circa 35% of goods and 30% of service exports.
- Encouragingly, survey data suggest that the Eurozone economy has regained some momentum so far this year, helped by a fall in wholesale energy prices and supportive fiscal policies
- The Eurozone economy then, has proved more resilient than expected in the face of high inflation and rising interest rates.
- This week, all eyes will be on the US Federal Reserve monetary policy meeting.
- Similarly, the market is now unsure if the BoE will increase Bank rate at this week’s MPC meeting
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