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Europe Week Ahead: ECB, BoE, EZ-, UK PMIs, German-, French-, Spanish-, UK IP
A lot has happened in a month, with mixed data and the return of market volatility leaving many central banks under intense pressure to respond. Yet the Fed ended its QE3 programme and signalled that further policy normalisation would follow, depending on economic progress. The BoJ surprised with an extra enhancement of its QQE programme. The ECB might fall somewhere in between. Fortunately, in the Eurozone, the month ended on a better note, with credible AQR and stress tests, an encouraging Bank Lending Survey, a compromise on national budgets, strong growth in Spain, better business sentiment and a modest rebound ... (full story)