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Pressure builds on the ECB

Published Wednesday, October 1st, 2014

The markets were reminded of the eurozone’s economic plight as the latest quarter drew to a close after figures revealed inflation across the currency-bloc slowed in September to a five-year low of 0.3%. The news will add to the existing woes faced by the ECB which will now come under increased pressure to deploy additional measures aimed at accelerating price growth at this week’s policy meeting. The region’s equity indices duly ticked higher as heightened expectations of further monetary support and liquidity boosted risk appetite although the euro slumped to a two-year low against the dollar.

The bearish outlook was not solely confined to the euro-area after the release of disappointing US economic data weighed on sentiment across the pond. Figures pointing to a lower-than-expected rise in house prices in July and a fall in a key gauge of consumer confidence in September highlighted the uneven nature of the country’s recovery.

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.