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Economy

Europe basks in economic tailwinds

To keep the pleasentness, the consumer is going to need some help

| Europe

At its December meeting, the European Central Bank extended its quantitative easing program until September this year but also announced it would scale back the monthly rate at which it purchases bonds from 80 billion euros' worth to 60 billion euros.

Since the meeting, the yield on the 10-year German bond yield has declined by about 20 basis points, to 0.19%. The euro has softened a little against the US dollar from a bit over $1.07 in the few days prior to the ECB meeting to just around $1.06 now. Also, the eurostoxx50 has advanced by about 4%.

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