ECB revises 2016 growth up but trims forecast for 2017, 2018: Draghi
[FRANKFURT] The European Central Bank on Thursday raised its 2016 growth forecast slightly but lowered its projections for 2017 and 2018, with bank chief Mario Draghi saying "uncertainties" caused by the Brexit vote would weigh on trade.
The ECB now expects gross domestic product to grow by 1.7 per cent in 2016, up from a previous projection of 1.6 per cent, Mr Draghi said.
The euro economy should expand by 1.6 per cent in each of the following two years, he added, down from the earlier 1.7 per cent forecasts for 2017 and 2018.
Inflation expectations remain broadly unchanged, at 0.2 per cent for 2016, 1.2 per cent for 2017 and 1.6 per cent for 2018, Mr Draghi said.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month
China firms are investing abroad at fastest pace in eight years
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs