Europe’s economy grows after months of stagnation, but rate hikes weigh on businesses
The 20 eurozone countries saw modest growth in Q2
- By: David Mchugh, The Associated Press
- July 31, 2023 July 31, 2023
- 11:35
The 20 eurozone countries saw modest growth in Q2
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Core inflation calls revised higher, amid growth, wage pressures
Major reforms unlikely after review finds funds resilient to market stress
Impacts of tighter financial conditions, banking stress evident in Q1
Individual bank scores will be used by banking regulators in determining how much capital they need to hold in reserve
Benchmark interest rate stays at minus 0.1%, taking a nimbler approach to keep financial markets stable
Performance was slightly lower than expected, given reduced mining and oil and gas operations
Revenues rose by $1.3 billion on higher interest and employment insurance premiums, and greater proceeds from personal income tax
Weakening inflation suggests the Fed may be able to achieve a difficult ``soft landing'' for the economy
But the $3.25 billion in total disbursements in the first half of the year compares with $4.72 billion in the first six months last year
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Meanwhile, the U.S. stock market held relatively steady near its records
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Asset performance to weaken as growth slows and inflation, rates face pressure
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The Fed left its benchmark interest rate unchanged for 3rd straight meeting on Wednesday
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Meanwhile, Canadian direct investment abroad rose 2.8% to $2.4 trillion
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At the same time, both fund types recorded positive net sales