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ECB's Praet Says Oil-Price Slump Positive for Europe Economy

From bloombergquint.com

Europeans fretting about Brexit or Italy’s budget crisis can take some comfort from the slump in energy prices, according to the European Central Bank’s chief economist. “The recent evolution in oil prices -- if it’s sustained -- is a positive development for Europe,” Executive Board member Peter Praet said in Brussels on Thursday. “It’s a relief” for consumers. Brent crude has lost more than 20 percent of its value since early October -- most of which is due to weaker demand amid slowing global growth, according to Bloomberg Economics. Euro-area consumers have been losing confidence, and the bloc’s third-quarter ... (full story)

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  • Category: Fundamental Analysis