ECB Eco Bulletin: Ongoing economic expansion in Euro area is increasingly resilient

The European Central Bank (ECB) is out with its latest monthly economic bulletin, painting a rosy picture of the Euro area economy.

Key Details:

Very substantial degree of monetary accommodation needed for underlying inflation pressures to build up, support headline inflation in medium-term

Ongoing economic expansion in euro area is increasingly resilient, has broadened across sectors and countries

Recent volatility in inflation was mainly due to energy prices, temporary increases in services prices over the Easter period.

Data points to solid Eurozone economic growth in Q2

Survey indicators suggest global growth will rebound in near term, then gradually accelerate