Despite the recent softening of the economic data, on Thursday ECB President Mario Draghi maintained a positive tone on the outlook for GDP growth and inflation. And the Q2 labour cost data, published on Friday, will have given policymakers further cause for optimism. Nevertheless, the Bank still looks set to leave interest rates unchanged until at least next September.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services