Out of the Box #25: Europe. From Technical recession to an real one?
The ECB Hawks have taken significant steps towards a forthcoming policy pivot. But what if they remain on the backfoot?
![Outside_The_Box](https://stenoresearch.com/wp-content/uploads/2023/04/Outside_The_Box.png)
Chart 1: US CPI vs Euro Area MUICP
The ECB Hawks have taken significant steps towards a forthcoming policy pivot. But what if they remain on the backfoot?
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