Official estimates show the eurozone stagnated in the second quarter of the year following poor performance in core Europe, disappointing City expectations.
Russia has imposed a ‘full embargo’ on a range of food imports from Western economies, which have imposed sanctions over Russia’s alleged involvement in Ukraine.
Early official estimates show that Italy has slipped back into recession for the third time since 2007. The economy contracted by 0.2% in the second quarter having contracted by 0.1% in the first.
The harsher the Asset Quality Review and Stress Test process and the greater the number of failures, the greater the probability that we see weaker banks being consumed by stronger rivals.
European Central Bank (ECB) President Mario Draghi has announced interest rate cuts along with a whole host of non-conventional measures to head off the rising risk of deflation in the eurozone.
Schroders' Fixed Income team reacts as the ECB takes unprecedented action.
Eurozone annual inflation has fallen to 0.5% in May, down from 0.7% the previous month.
First quarter eurozone GDP is estimated to have grown by 0.2% (quarter-on-quarter), matching quarterly growth at the end of 2013 but disappointing the City, where consensus expectations were for an acceleration to 0.4% growth.
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