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Euro zone economic growth slows in quarter before Brexit

Page created: Friday, 29 July 2016 14:50 GMT

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European Union  Eurozone  GDP

The slowdown of the euro zone economy may strengthen the case for further stimulus from the European Central Bank, which has already cut its deposit rate to minus 0.4 percent and buys 80 billion euros ($88.5 billion) of assets per month in a bid to counter ultra-low inflation in the currency bloc.

 

First estimates on euro zone inflation released on Friday by Eurostat showed a slight rise to 0.2 percent in July from 0.1 percent the previous month, but still far away from the ECB target of a rate close to 2 percent, while core inflation remained stable.