The German Finance Minister, Christian Lindner said on Wednesday that the economic outlook for the eurozone powerhouse is fragile..
Previously, Lindner had said that high inflation in Germany was eroding economic fundamentals.
Germany is bearing the brunt of the war between Russia and Ukraine, while the European gas crisis worsens. The economy is on the verge of recessionwhile companies expect a significant worsening of business activity in the coming months.
Despite growing recession fears, the European Central Bank (ECB) remains on course for a 50 basis point rate hike at its September meeting. Eurozone money markets are already factoring in a 50 basis point rate hike next month.
Source: Fx Street
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