An escalation in trade tensions between Washington and Beijing could drag down inflation in the Eurozone if cheap Chinese goods are diverted from the US to the currency area, European Central Bank economists have warned.
A major rerouting of Chinese goods to Europe could push inflation in the euro area further below the central bank’s target of 2 per cent next year, a team of ECB economists noted in a blog post on Wednesday.
“The euro area could see imports from China rise by up to 10 per cent in 2026,” they wrote, adding that this was equivalent to about 1.3 per cent of overall consumption of goods in the Eurozone.
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