In the Eurozone, following last week confirmation by the ECB that the next TLTRO will be the last, thus analysts at Natixis expects a huge demand for this final operation.
“From the short term indicators side, we will focus on the PMI surveys. We expect in the Eurozone still a slight increase as well in the manufacturing sector as in the services, to 56 (from 55.4) and 56.5 (from 55.5) respectively. Also, consumer confidence survey might improve to -5 from -6.2 in February. However, from now on, the acceleration of inflation will weigh on households' confidence. Thus this indicator may stagnate in the next months. In addition the political uncertainties regarding France and Germany elections the next months should also become a deeper cause of concern for consumers.”
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