By Barbara Zigah Last week’s excitement over the prospect of an ECB rate hike has waned, evidenced by wary investors more cautious than ever over the continuing saga of Eurozone peripheral debt. On Monday, Moody’s, the international ratings agency, aggressively downgraded Greece’s sovereign debt by several notches to B1, and kept the country’s debt “outlook” [...]
Tag Archives: EUR
Trichet’s Hawkish Tone Sends Euro Soaring
By Barbara Zigah Given the Eurozone’s steady growth, some market players had been hopeful that the European Central Bank would see fit to consider raising key interest rates in the near term. However, as a consensus of economists had been forecasting, the ECB determined that its key interest rate will remain fixed at 1%. In [...]
Eurozone Growth Steady; Germany Still The Main Growth Engine
By Barbara Zigah The European Union’s Eurostat earlier today released 4th quarter 2010 GDP results which were unrevised from earlier estimates at 0.3%. The data confirms that the Eurozone’s collective economy grew from the 3rd quarter’s contraction of 0.6%. As compared to the 1.2% growth in the 4th quarter 2009, annualized growth is improved at [...]
