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Austria's central bank reports that Vienna is more likely to experience a slow correction in its overvalued housing market rather than a sudden shock. The assessment implies limited near-term tail risks to banks and financial stability but signals downside pressure on housing valuations and a need for monitoring by policymakers.

Analysis

Austria's central bank reports that Vienna is more likely to experience a slow correction in its overvalued housing market rather than a sudden shock. The assessment implies limited near-term tail risks to banks and financial stability but signals downside pressure on housing valuations and a need for monitoring by policymakers.