ECB Improves European Economic Outlook

The European Central Bank (ECB) has improved its outlook for the eurozone economy this year.

It now expects the single-currency area to shrink 0.4% compared to its previous forecast in June of a 0.6% contraction.

The ECB on Thursday held interest rates at 0.5% despite tentative signs that the eurozone is recovering.

The 18-nation bloc emerged from recession in the second quarter of this year, with growth of 0.3% recorded between April and June.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza