Our Europe Chart Pack has been updated with the latest data and our analysis of recent developments.
Recent data suggests the euro-zone economy contracted in Q3. We expect it to shrink further in Q4, with only a weak recovery in 2024. Headline inflation has fallen sharply in recent months which we expect to continue, but the core rate will come down more slowly. This will encourage the ECB to keep its deposit rate at 4.0% until the second half of 2024.
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