ECB lowers inflation, growth forecasts

 The European Central Bank revises downward its inflation and economic growth outlooks for the eurozone.

Inflation is projected to average 0.1 per cent this year – down from the 1 per cent the bank projected in December.

Consumer prices should then climb to 1.3 per cent in 2017, lower than the 1.6 per cent forecast three months ago. The inflation rate will now come in at 1.6 per cent in 2018.

The currency bloc should expand by 1.4 per cent this year before accelerating to 1.7 per cent in 2017 – both lower than the December forecasts. At 1.8 per cent in 2018, the growth forecast is the same as three months ago.

Last update: Thu, 10/03/2016 - 16:42
Author: 

More from Europe

Brexit is "hostile action" for Northern Ireland, Sinn Fein says

Prime Minister Theresa May's plan to take the United Kingdom out of the European Union is a "hostile action" for the...

"We shall overcomb": Tens of thousands join London Women's March

An estimated 100,000 people gathered in central London on Saturday for a rally and march to show support for the...

Slovenian interior minister says Geneva convention outdated

Slovenia will not let others run its asylum policy and mange its borders, and the Geneva convention on refugees is...

Trump win causes right-wing hearts to soar at meeting in Germany

Looking west the day after US President Donald Trump's inauguration, European right-wing party leaders who had...

Hundreds protest in Berlin in solidarity with US Women's March

Hundreds are staging a demonstration for women's rights in front of the US embassy in Berlin, on the same day that a...