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Eurozone Economic Growth to Touch 1.1% in 2020: Bundesbank Official

According to an official from Germany’s central bank Bundesbank, Eurozone is expected to see its economy grow by 1.1% in 2020. Economic growth in the Eurozone is expected to receive some support via fiscal easing measures in the region.

These comments were made by Burkhard Balz, a member of Bundesbank’s executive board, at a financial forum in Hong Kong earlier today. Balz also estimates inflation to weaken slightly from 1.2% in 2019 to 1.1% this year on the back of a decline in energy prices. However, he expects inflation to rise to 1.6% in 2022, supported by an overall improvement in economic activity.

The Eurozone has seen weak economic growth through 2019 as a result of global trade tensions, Brexit uncertainties and an overall decline in global economic growth. In the coming months, markets are optimistic that conditions could improve once the US-China phase one trade deal gets signed and Brexit negotiations progress well.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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