Europe is heading for recession...
The effect of the economic slowdown in europe is now starting to affect people's lives. Due to the expensive lifestyle (Cost of Living Crisis), the economic situation there has started staggering. Due to the ever-increasing economic crisis, people's expenses are now getting affected. This has been revealed in a survey conducted on Monday. Gas prices in europe are skyrocketing. The entire region is facing severe drought. The prices of goods are increasing continuously.
According to a report by Reuters, inflation in european countries may touch its highest level in the coming days. It is feared that the cost of running households and other industries in general may increase so much that people can raise their hands.
How many people in european countries were affected by the recession?
Growth in european industries is very low but prices of goods are at the highest level. This slowdown is coming because of inflation. The steps being taken by the european Central bank are so inadequate that people are not getting relief. A total of 340 million people of the Eurozone are being affected due to this bank. The situation is not being handled by the european Central Bank.
Such situations are being created that the credibility of the european Central bank is being questioned. Due to this, the difficulties of countries fighting inflation can increase further. It can have a very adverse effect on people's lives. The policies of european countries are very strict, due to which the situation here is not going to be stable. Due to the costly decline in growth, the crisis of recession will deepen.
Controlling inflation is the biggest challenge of european countries
The biggest challenge before the great leaders of europe is how to reduce the rate of inflation. The first priority of european countries is also to hold several level meetings in the coming days so that loan charges for homes and firms, house tax and deepening financial crisis can be overcome.
Wednesday's inflation figures are clearly indicating that there may be unexpected changes in the figures next week. This rate may increase further. Loan costs have increased in Europe. This is adding to the difficulties of the borrowers. Most economists polled by a Reuters poll have said that the european Central bank could see a 75 basis point rate hike this week. In many forecasts, it has been said that up to 50 basis point rate increase can be seen.
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