At the end of August, Schroders became the latest investor to upgrade its growth forecasts for the euro area – to 2.1% for 2017, up from 1.8% previously and to 1.9% for next year up from 1.8%.
As fears over rate rises grow, ECB president Mario Draghi affirmed at the Kansas City Federal Reserve shindig at Jackson Hole that: “The global recovery is firming up.” Draghi was careful in public to point out that while the US recovery is more advanced, in Europe “the consolidation of the recovery is at an earlier stage”.
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