Cost-of-living pressures are hurting people’s ability to service debt, while Europe’s deteriorating growth prospects threaten corporate profits.
Alarm bell from the ECB in the shadow of high inflation and consecutive interest rate hikes. The financial stability report warns of growing stability risks for everyone from banks to governments and households as the economic outlook “glooms” and officials battle record inflation.
Cost-of-living pressures are hurting people’s ability to service debt, while Europe’s deteriorating growth prospects threaten corporate profits.
Public finances are also at risk as governments borrow to cushion the impact of the energy crisis, while disruptions are not ruled out in the property market as house prices may peak after a multi-year rise.
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