The Eurozone economy essentially flat-lined for five consecutive quarters between the end of 2022 and throughout last year. For the year as a whole, GDP rose by just 0.5% in 2023, down from 3.5% in 2022.
BoE gradually moving towards cutting interest rates
The March meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank keep its key interest rate unchanged at 5.25%. This decision was very much in line with market expectations.
PMI jumped to 52.2 in Feb, its highest level since June 2022. A sharp rise in output and employment, alongside growth in new orders were the key features of the survey.
