European Central Bank, (2017), “Annual Report 2016”, April 2017
In 2016 the euro area economy faced a demanding external environment. Growth in both advanced and emerging market economies was modest by historical standards and there were episodes of heightened uncertainty and short-lived peaks in financial market volatility, particularly following the UK referendum on EU membership in June and the US presidential election in November. Global inflation was subdued owing to the gradually diminishing impact of past oil price declines and still abundant global spare capacity.
Relevant Posts
- Credit Suisse, (2016), “The Global Wealth Report 2016”, Research Institute, November
- European Commission/Report on Public Finances in EMU 2016/Institutional Paper 045 December 2016