ECB says tariff shocks ‘continue to reverberate’
Stability review says risk of slowdown has “increased markedly”, though banks are better placed than in 2008
Trade tensions have cast an inevitable shadow over the European Central Bank’s latest Financial Stability Review, which warns of an increasingly uncertain outlook for the eurozone’s economy and money markets.
In his foreword to the review, published today (May 21), ECB vice-president Luis de Guindos said that although expected tariff rates had eased somewhat since US president Donald Trump’s ‘liberation day’ announcement on April 2, “the repercussions of the shock continue to reverberate and the
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