The U.S. has recovered faster than Europe, which still hasn't recovered pre-pandemic levels of output. Annual inflation came in at 3% in August, but the ECB and private-sector economists predict that the figure will fall in 2022 as year-earlier comparisons drop out of the statistics....
That has left the ECB looking through the recent price spikes that have accompanied the easing of restrictions imposed during the pandemic....
The ECB now thinks the economy will regain its pre-COVID-19 size by
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2021-09-28 00:00:00.0