- Prior +0.2%
- GDP Y/Y +0.8% vs +0.9% expected
- Prior +1.2%
These lower than expected figures further complicate ECB’s decision but points more towards a neutral stance with a slightly hawkish bias in case the war drags on for several more months. Bear in mind that GDP is expected to contract further in Q2 if the war extends into summer.
The Core CPI released at the same time eased further to 2.2% vs 2.3% prior. The economic data leading up to today’s ECB decision supports more a patient approach rather than an outright hawkish leaning as expected by the market.
This article was written by Giuseppe Dellamotta at investinglive.com.
