IFO Business Climate figures for Germany were released yesterday. The Business Climate indicator for Germany rose by 0.9 points from the previous month to 93.4 in September 2020, the highest level since February but below market expectations of 93.8.
However, businesses said that they felt they were in a better position than last month and also expect further recovery in the coming months.
As predicted, the ECB’s economic bulletin revealed that they would keep interest rates on hold. It also detailed that the ECB have pledged to buy up to €1.35 trillion worth of debt through June 2021 under its Pandemic Emergency Purchase Programme.
A two-day EU leaders’ summit due to start on Thursday has been postponed until the 1st of October after a security guard tested positive for Covid-19.
