ECB’s Praet: Oil-price slump is positive for Europe economy

Bloomberg reports comments from the European Central Bank Chief Economist Peter Praet, with the key quotes found below.

“The recent evolution in oil prices -- if it’s sustained -- is a positive development for Europe,” 

“It’s a relief” for consumers.

Domestic demand in the euro area remains “robust” and the German economy, which contracted last quarter for the first time since 2015, should rebound, Praet said. He also cited data showing exports orders are “stabilizing.”