In its latest economic bulletin released after the April policy meeting, the European Central Bank (ECB) highlighted that the Euro area GDP could fall between 5% to 12% this year.
Additional takeaways
“Survey indicators suggest a sharp contraction in economic growth.”
“Also, a profound deterioration in labor market conditions.”
“The variability depends on the duration of lockdown measures, the success of policies.”
“Headline inflation is likely to decline further in the coming months.”
“An ample degree of monetary accommodation is necessary for the robust convergence of inflation to levels that are below, but close to, 2% over the medium-term.”
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