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The European Central Bank’s (ECB) Economic Bulletin, published Thursday, mentioned that a strong global economic recovery is underway and that the zone’s property sector will likely infuse inflationary pressures over the next few months.
The publication said that the central bank still expects that inflation will rise significantly in the first quarter of 2017 due to the base effects of falling prices in early 2016. The key issue for the central bank will be whether there is a broad-based increase in inflationary pressure during the year ahead.
According to the ECB, there has been some suggestion that the very low level of interest rates has lessened demands for higher rents to boost property yields and this has also been an important factor in holding back any reported increase in inflation.
"The medium-term outlook for global activity remains one of strengthening growth, albeit below its pre-crisis pace. Overall, growth appears to be holding up in advanced economies and seems to have bottomed out in emerging market economies," the ECB said in its Economic Bulletin Thursday.
Meanwhile, EUR/USD traded at 1.04, up 0.36 percent, while at 10:00GMT, the FxWirePro's Hourly Euro Strength Index remained highly bullish at 121.48 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
