EUR unmoved/ a touch lower on easy policy continuing
- Underlying prices pressures remain subdued
- Euro zone economic recovery to pre-pandemic levels in Q1 2022
- Continued support of Fiscal & Monetary policy needed to avoid pandemic leaving scars
- Infaltion likely to increase in the Autumn, but only……….wait for it…wait for it….temporary
Nothing new here. German PMI’s were good this week and business confidence is up as well. The euro area recovery is in sight, but Lagarde still keeping to the easy monetary policy script.