Fri, 29 Mar 2024 Today's Paper

ECB cuts growth, inflation forecasts for 2015-2017

By

4 September 2015 06:30 pm - 0     - {{hitsCtrl.values.hits}}

A A A

AFP - The European Central Bank this week cut its forecasts for both economic growth and inflation in the single currency area over the next few years.
The ECB, in its regular staff projections, was pencilling in growth of 1.4 percent for 2015, 1.7 percent for 2016 and 1.8 percent for 2017, president Mario Draghi said.
That represented a reduction from the previous set of projections in June, when the bank had been forecasting growth of 1.5 percent, 1.9 percent and 2.0 percent, respectively.
“The economic recovery is expected to continue, albeit at a somewhat weaker pace than expected earlier,” the ECB said.
“More recently, renewed downside risks have emerged to the outlook for growth and inflation” from low oil prices and the economic slowdown in China, it said.

Given the subsequent market reaction of “sharp fluctuations in financial and commodity markets,” it was too early to say whether these developments could have a lasting impact on the outlook for prices, or whether they should be considered to be mainly transitory, the ECB said.
The central bank also lowered its inflation forecasts, “largely due to lower oil prices,” it said.
Area-wide inflation was projected to come in at 0.1 percent this year, 1.1 percent next year and 1.7 percent the year after.
In June, the ECB had been forecasting inflation rates of 0.3 percent, 1.5 percent and 1.8 percent, respectively.
Draghi said that the single currency area could even see negative inflation rates in the coming months, but that was likely to prove only temporary.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 0

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H