ECB releases its economic bulletin for its July meeting
- Indicators point to broad-based growth still
- But at a somewhat slower pace than that in 2017
- Threat of protectionism remains prominent
- Risk of heightened market volatility needs monitoring
- If all threatened tariff measures are implemented, average US tariff rate would rise to highest in 50 years
Nothing in here that will really move the needle on the euro. The key highlight of the report is the risks to global trade and protectionism. The full bulletin/report can be found here. I don't see anything in the monetary policy part that is different from what we already know about the ECB.
