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(MNI) LONDON
(MNI) London
The eurozone slipped into recession in the first quarter of 2023, after Eurostat said on Thursday that it had revised down growth in both the first quarter and the fourth quarter of last year to -0.1%.
Although only a narrow technical recession now, the data will likely give policymakers on the ECB's Governing Council pause for thought ahead of an expected 25 bps hike in the deposit rate on June 15. Only this week, Executive Board member Isabel Schnabel said "at present we do not expect a recession in the euro area." (See MNI SOURCES: Most At ECB See 4% Rate As Only Outside Chance)
Source: Eurostat
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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