Yael Selfin, Head of Macroeconomics at KPMG comments on today’s European Central Bank (ECB) meeting. She said:
“President Mario Draghi provided no Christmas gifts to fill Europeans’ depleted Christmas stockings today. Growth forecasts have also been heavily downgraded for 2015 indicating that this is unlikely to be a happy New Year for most in the Eurozone.
“Despite reassurances that the ECB will step in further if needed next year, there are doubts how much action we will actually see in 2015.”
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Ann Burton, KPMG Press Office
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.