ECB Monthly Bulletin: There Are Increasing Signs Of Stabilization In Eurozone

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There are increasing signs of stabilization in economic activity in the euro area and elsewhere, the European Central Bank said Thursday.

In its latest monthly bulletin, the ECB said this view is consistent with the expectation that the significant contraction in economic activity has come to an end and is now followed by a period of stabilization and very gradual recovery.

The central bank expects the Eurozone economy to stabilize in the third quarter.

Repeating the statement made on September 3, when the central bank kept its key interest rate unchanged at a record low of 1%, the ECB said economic recovery in the euro area is expected to be rather uneven, given the temporary nature of some of the supporting factors and the ongoing balance sheet correction in the financial and non-financial sectors of the economy, both inside and outside the euro area.

The risks to this outlook remain broadly balanced, it added.

There are increasing signs of stabilization in economic activity in the euro area and elsewhere, the European Central Bank said Thursday. (Market News Provided by RTTNews)