Live coverage of business, economics and financial news as ECB expected to cut interest rates by 0.25 percentage points in effort to support growthIt was a flash reading on the Eurozone economy, so we don’t have the details on what the drivers were. But it’s clear that it was a weak end to 2024.But the European Central Bank might be able to spur a bit of economic growth in the eurozone with looser monetary policy.This marks a weak end to last year, following positive growth in the first three quarters of 2024. As a result, first estimates suggest that the currency bloc as a whole grew by 0.7% in 2024. Declining activity in Germany – the Eurozone’s largest economy – has weighed on the bloc’s growth, with German GDP contracting by 0.2% on the quarter. This suggests Germany has now seen annual declines in activity for two consecutive years.In 2025, further loosening of monetary conditions is expected to provide a modest uptick in activity for both Germany and the Eurozone, with growth expected to amount to 0.3% and 1.0% respectively. Continue reading…
Source link : https://www.theguardian.com/business/live/2025/jan/30/royal-mail-cut-deliveries-saturdays-shell-dividend-oil-industry-results-ftse-100-european-central-bank-ecb-gdp-business-live-news
Author : Jasper Jolly
Publish date : 2025-01-30 12:23:42
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Eurozone economy stagnated ahead of European Central Bank interest rate decision – business live
