The ECB’s ‘gradual’ approach to phasing out its Asset Purchase Programme (APP) coupled with what is likely to be a 50 basis point hike from the Fed next week, places the euro in a tough spot. Get your market update from RichardSnowFX here:
Martins Kazaks, Latvia’s central bank governor has expressed that a view to hike 2 to 3 times this year is “quite a reasonable view to take”. He added, “a rate rise in July is possible” but qualified his statement saying that its immaterial whether the first hike is in July or September but prefers July.
Germany is the EU’s largest economy which is seen dropping 1.7% in expected, GDP growth in 2022. In contrast, the US is only expected to drop 0.3% from the January GDP growth forecasts, coming in at 3.7% for the year. All figures refer to real GDP
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