Weekly Market Recap
31 October 2022
ECB Tightening Into Recession
- Rising ECB hiked rates for third time in a row.
- With high inflationary pressures, tighter credit conditions and a robust labor market, ECB painted a more pessimistic economic outlook, with downside risks to growth and upside risks to inflation.
- ECB is concerned about a likely excessive wage increases, which could result in a wage-price spiral.
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