30/01/2025 09:24
The Guardian
Live coverage of business, economics and financial news as ECB expected to cut interest rates by 0.25 percentage points in effort to support growthGermany’s economy contracted by more than expected in the fourth quarter of 2024, according to data that suggest the Eurozone economy as a whole may not have expanded.Germany’s GDP dropped by 0.2% quarter-on-quarter in the last three months of the year, according to preliminary data from the statistics office. That was worse than the 0.1% contraction expected by economists polled by Reuters.With national data now available for all larger euro-zone countries, it looks as if GDP growth in the region slowed to 0.1% q/q or even zero in Q4 last year. The region’s two largest economies both contracted and Italy recorded no growth. With the major economies set to remain lacklustre this year even if a major tariff war is avoided, we expect the ECB to cut its deposit rate by 150bp this year to 1.50%, starting with 25bp later today.The talks are ongoing and the amount that SoftBank could invest in primary equity into OpenAI is a moving target. Continue reading...
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