In an Economic Bulletin article published on Thursday, The European Central Bank (ECB) offers up-to-date information on economic, financial and monetary developments in the euro zone.
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The Governing Council will base the future path of key interest rates on developments in the outlook for inflation and the economy, following its approach to meeting to meeting.
Inflation is still too high and will remain above target for an extended period.
The Governing Council also decided to amend the terms and conditions of the third series of Targeted Longer-Term Refinancing Operations (TLTRO III).
It is Eurozone economic activity likely to have slowed significantly in the third quarter of 2022, and the Governing Council expect further weakening in the remainder of 2022 and early 2023.
The worsening trade relationshipsince the prices paid for imports increase more rapidly than those received for exports, it is weighing on eurozone revenues.
To limit the risk of fueling inflation, fiscal support measures to protect the economy from the impact of high energy prices should be temporary and be targeted at the most vulnerable.
The data received confirm that the risks to the outlook for economic growth are clearly on the downside, especially in the short term.
Source: Fx Street
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