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- Title
Europe.
- Abstract
The article presents the economic outlook for Europe for the period 2007 to 2008. The European Central Bank (ECB) has increased the refi rate to 4% in June 2007, leaving it unchanged in July. Since December 2005, interest rates have now climbed by 200 bp. The authors expect the ECB to act again in autumn and to increase the refi rate to 4.5% by year-end. In May 2007, the expansion of capacity has helped unemployment fall to 7%, down from 7.9% a in 2006, in addition, it should edge down further through the rest of 2007.
- Subjects
EUROPE; EUROPEAN Central Bank; ECONOMIC conditions in Europe, 1945-; MONETARY policy; UNEMPLOYMENT; ECONOMIC indicators
- Publication
Economic Outlook, 2007, Vol 31, Issue 3, p44
- ISSN
0140-489X
- Publication type
Article
- DOI
10.1111/j.1468-0319.2007.00617.x