Economy Slumps, ECB Eases Modestly

<p>Executive Summary The Eurozone economy declined 3.8% quarter-over-quarter in the first quarter, matching expectations but still the largest quarterly decline on record, with sizable falls in French, Italian and Spanish GDP. April CPI inflation also slowed. The ECB eased liquidity policy at today’s meeting, and we currently expect the central bank to further expand its […]</p>
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