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The full impact of the European Central Bank’s unprecedented monetary-tightening campaign is yet to be felt — even as officials gear up to lower borrowing costs in June, Chief Economist Philip Lane said. “While the impact of the tightening cycle on economic activity might have reached its maximum level at the turn of this year, model-based analysis suggests ...
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The Ifo index, Germany’s most prominent leading indicator, just illustrated that the cyclical bottoming out will not automatically be followed by a strong recovery. After three consecutive increases, the Ifo index remained unchanged at 89.3 in May. While the expectations component improved again, the current assessment component dropped. Judging from ...
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