ECB President Mario Draghi’s ‘whole menu’ of monetary policy options to spur lending and boost euro area inflation from below zero appears to have few new dishes, if any at all.
The latest euro zone flash purchasing managers’ indexes may have surprised slightly on the higher side, but many are still not convinced that better economic growth is coming later this year.
While Greece has been trapped in the clutches of an economic and sovereign debt crisis for half a decade, it has only been over the last month that the risk of leaving the euro has risen so dangerously high.
The recent green shoots emerging out of the euro zone economy could look a little more leafy on Thursday when data is likely to show a long-awaited recovery in private bank lending is starting to pick up pace.
The International Monetary Fund surprised on the upside with its programme for Ukraine last night, agreeing $17.5 billion in loans as expected but agreeing to pump $10 billion of that into the near bankrupt country over the next year and handing over $5 billion imminently.