Finally!

Next week the European Central Bank will finally lower its key interest by a quarter-point to 0.5%, as the euro-region recession continues. Most importantly, Germany, Europe’s largest economy, may now officially be in recession and business confidence is slumping. Meanwhile, across Europe, purchasing managers are indicating continued contraction and exports to China are slowing. While the rate reduction will not really change things, it’ll provide a psychological lift.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.