020 7898 0500The ECB kept its policy unchanged yesterday and reiterated its belief that interest rates will remain at their record lows until at least the middle of next year. In truth, none of what was said was much of a surprise, but there was a slight possibility that they could have suggested a possible change in course. It wasn’t to be and the euro weakened against the dollar.
Gfk consumer confidence in Germany fell to 10.6 in August from 10.7 the month before. It had been expected to hold steady and one wonders what the figure would have been had Trump and Juncker met earlier than they did. It is the weakest reading since July 2017, but now that we know the EU and US are working towards a trade resolution, fears over a trade conflict could abate.
It is extremely quiet for eurozone economic data today, but Barnier’s statement will likely be the focus of at least some attention.
