• Potential for sudden stops in capital flows, payment disruption and volatility in currency markets requires robust contingency planning.
  • There are further signs that geopolitical considerations increasingly influence decisions to invest in gold.
  • Recent increase in trade policy uncertainty could reduce Euro Area business investment by 1.1% in the first year and real gdp growth by around 0.2% in 2025-2026.
ECB's Cipollone
ECB's Cipollone
Source: Forex Live