Monetary Council Reduces Central Bank Base Rate by 50 Points hungarytoday.hu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hungarytoday.hu Daily Mail and Mail on Sunday newspapers.
In the euro area, focus today will be on the euro area PMIs for April. The previous months' PMIs have shown a return of the two-speed economy with the service sector in expansionary territory and manufacturing sector stuck in contraction. We expect that service PMIs will remain above 50 as rising real wages and a strong labour market are supporting activity. The manufacturing PMIs will likely increase but stay below 50 as the global manufacturing cycle is slowly turning positive, inventory dynamics support production, and financial conditions have eased. We also keep an eye on PMIs from the UK.