The Economic Bulletin of the European Central Bank (ECB) published on Tuesday, warns against the inegative impact that any gas supply disruption would have on economic growth in the eurozone.
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“The high energy prices would reduce the eurozone’s economic output by around 0.2% this yearcompared to baseline GDP levels, with the biggest impact in the first quarter.”
“The negative economic impacts would be compounded if the bloc loses some of its gas supply.”
“The direct and indirect impact of a hypothetical 10% gas rationing shock on the corporate sector is estimated to reduce euro area gross value added by about 0.7%,”
“Austria and Slovakia would be the most affected countries.”
market reaction
EUR/USD trades near daily highs at 1.1350 amid a renewed wave of risk appetite, gaining 0.34% so far today.
Source: Fx Street
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