According to analysts at BNP Paribas, the Euro area, growth is sharply decelerating, with some countries like Italy not very far from recession.
Key Quotes
“Extra and intra EU trade is less dynamic, in line with fading external demand, in particular coming from EMEs nInflation is expected to come-back below the 2pct level, as a consequence of falling oil prices.”
“The ECB will stop its net asset purchases as off the 1st January of 2019, while keeping rates unchanged up to the end of year.”
“This may cause a (slight) rebound in bond yields as well as in the value of euro.”
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