Stagflation Dangers Stalk Europe
The news flow has been dismal enough for investors to resume focus on worries that haunted finance chiefs in 2022, asking if the threat of stagflation is once again stalking the continent.
“The euro area is stuck in stagflation, and we’re not going to come out of it any time soon,” said Karsten Junius, chief economist at Bank J Safra Sarasin in Zurich.
Euro zone policymakers will be first to cast a judgment on the where the threats lie, with a decision on Sept. 14
The July decision of the ECB, according to minutes of that meeting. “The concern was also raised that the economy might be entering a phase of stagflation, in contrast to a more benign scenario,” according to the account.
Gilles Moec, chief economist at AXA Investment Managers, told Bloomberg Television
“But right now there is no impact whatsoever on inflation, and this is the big issue we have. We have more slowdown than in the US — with more inflation.”
Bloomberg 31 August 2023
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