There always is pal.
- See modest trend of improvement in German economy in second half of the year (just as industrial output drops to the most since 2009)
- Geopolitical risks could damp economic activity
- Ukraine poses an uncertainty for the euro area economy
- Risk of broad based deflation in euro area is small
Woah woah woah there horsey. Haven’t we always been told that we’ll not see deflation? And now we have one of the major European central banks saying that we may get some deflation, but don’t worry as it won’t be total deflation?
