Posted 11/13/2023, 8:56:00 AM
ECB's de Guindos Warns of Continued Weak Growth in Euro Zone Due to Softening Services and Labor Market
- Euro zone growth will remain weak as services and labor market weaken, says ECB's de Guindos
- Nations should not free bank capital buffers to ease economic pain, buffers should be preserved, he says
- Weaker industrial activity spilling over to services, euro area economy likely to remain subdued
- Labor market starting to show signs of weakening
- Interest rates held at current levels for long enough will play substantial role in lowering inflation