Individual country inflation data keeps pressure on the ECB to remain aggressive on rate hikes
Euro area GDP rose 0.1% in the first quarter of the year, under expectations of a 0.2% advance. Not great but certainly not as bad as the previous quarter which was heralding a potential recession. Italy and Spain advanced more than forecast at 0.5% and France grew 0.2% in line with estimates. Germany on the other hand flatlined, showing no growth. Accompanying individual country inflation data keeps pressure on the European Central Bank (ECB) to remain aggressive on the hiking front next week, despite euro-wide growth not far from flatlining.
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