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The latest economic data indicates that the eurozone’s recovery is losing momentum, with industrial production continuing to drag on growth and sentiment indicators suggesting a weakening in the strong momentum seen earlier this year, reported Oxford Economics in a note on July 19. As expected, the European Central Bank (ECB) kept interest rates unchanged at its July monetary policy meeting. The council cited insufficient progress in disinflation for services and core inflation as the reason for holding rates steady, though analysts still anticipate a rate cut in September based on inflation d…

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