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MNI BRIEF: Stickier Inflation To Choke Growth Outlooks-De Cos

(MNI) ROME
(MNI) Rome

Growth outlooks for the eurozone will be dependent on projections for how quickly inflation slows, Bank of Spain’s governor Pablo Hernandez de Cos said Wednesday.

The persistence of higher inflation would slow the recovery and “would very likely lead to further tightening” in the euro area”, de Cos said in a speech in Madrid. The longer higher interest rates remain, the more likely that financing cost rises for banks and a deterioration in the quality of credit risk, he said.

According to BOS estimates, the 400 bps increase in rates since July could boost the median gross financial burden ratio of non-financial companies between 2.9 and 6.8 bps and in the proportion of corporate debt held by companies with high financial pressure between 6.5 and 8.9bps, he added.

MNI Rome Bureau | +34-672-478-840 | santi.pinol.ext@marketnews.com
Central Bank NewsBank of SpainPolicy NewsEuropean Central BankCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsSpainBriefStoryRegion
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MNI Rome Bureau | +34-672-478-840 | santi.pinol.ext@marketnews.com
Central Bank NewsBank of SpainPolicy NewsEuropean Central BankCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsSpainBriefStoryRegion
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