ECB: moderate but steady recovery, waiting for June 23

Carefully, Brexit risk is too high, it is what emerges from the report published today by the ECB, which remains cautious about the economic outlook with the prevalence of downside risks.

"The most recent data indicate a continuation of growth in the second quarter, though at a rate that may be lower than the first quarter – it says – in perspective, the Governing Council expects the economic recovery to proceed at a moderate but steady pace. Domestic demand continues to be supported by the transmission of monetary policy to the real economy. Conditions favorable financing and improvements in the profitability of the business they continue to promote investment. "

The estimates for 2016 and 2017 have been provided to the upside: the macroeconomic projections for the euro area foresee annual GDP growth of 1.6 percent this year and 1.7 per cent in 2017 and 2018.
Even the 2016 inflation is rising, in relation to recent increases in oil prices. According to the Eurotower it is likely that inflation rates remain very low or negative in the coming months before recovering in the second half of 2016.