ecb raises forecasts for growth
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

ECB raises forecasts for growth

Arab Today, arab today

Arab Today, arab today ECB raises forecasts for growth

Mario Draghi, the president of the European Central Bank,
Berlin - Arab Today

The European Central Bank raised its forecasts for economic growth and inflation for this year and next, but it will nonetheless stick with its easy-money policy, the ECB president Mario Draghi said yesterday.
The ECB now expects growth of 1.8 per cent in 2017 and 1.7 per cent in 2018, compared with earlier forecasts of 1.7 per cent and 1.6 per cent, respectively, Mr Draghi said.
Meanwhile, inflation should reach 1.7 per cent in 2017 and 1.6 per cent in 2018 – up from previous predictions of 1.3 per cent and 1.5 per cent.
The ECB left unchanged its forecast of 1.6 per cent GDP growth and inflation for 2019.
Despite the increased forecasts, Mr Draghi said that the ECB would not increase interest rates, which it has long fixed at historic lows, or look to wind down its mass bond-buying programme.
Such loose monetary policies are designed to boost growth and inflation in the 19-nation euro zone, bringing price increases towards the central bank’s target of "close to, but below 2 per cent".
Inflation stood at 2 per cent in February, but Mr Draghi reiterated that the ECB’s governing council plans to "look through" short-term spikes in the reading owing to volatile food and energy prices.
"This is a gradual process," Mr Draghi said.
"The governing council members want to be convinced they see a self-sustained adjustment in the inflation rate, and we don’t see it yet."
Europe’s benchmark government bond yield hit a one-month high and the euro firmed against the dollar after the ECB removed from its latest policy statement a reference to using all available instruments to prop up growth and inflation.
Mr Draghi said the governing council had also discussed removing a reference to lowering interest rates in its forward guidance.
German 10-year bond yields rose 5 basis points to hit a one-month high of 0.43 per cent, while yields on low-rated euro zone bonds trimmed earlier falls.
The euro rose to the day’s high at US$1.0605, up more than half a per cent on the day. Sterling also hit the day’s high of $1.2192.
The Stoxx 600 banking index and euro-zone banks index hit their highest of the day, up 0.8 per cent and 1.9 per cent.


Source: The National

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ecb raises forecasts for growth ecb raises forecasts for growth

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ecb raises forecasts for growth ecb raises forecasts for growth

 



GMT 09:16 2017 Wednesday ,13 December

Cape wearing tips

GMT 20:49 2017 Monday ,21 August

South Asia floods claim more than 750 lives

GMT 19:06 2016 Saturday ,10 December

IOF Close Al-Nabi Saleh Village's Entrance

GMT 18:01 2017 Wednesday ,22 February

Abu Sayyaf ‘likely’ behind Vietnam freighter attack

GMT 06:41 2017 Sunday ,03 December

Hamas threatens 'intifada' over US moves on Jerusalem

GMT 16:17 2017 Saturday ,21 January

BMW 7 series crosses 5,000 unit mark in 2016

GMT 12:17 2016 Wednesday ,24 February

United Technologies nixes Honeywell merger

GMT 23:37 2017 Monday ,31 July

Saudi Arabia sanctions Hezbollah member

GMT 05:45 2018 Saturday ,29 September

Abdullah bin Zayed hosts official reception in New York

GMT 04:12 2018 Friday ,12 January

Saudi-led coalition says Yemen rebels threat

GMT 11:18 2014 Monday ,22 December

Richard Ward adds to The Chelsea Collection

GMT 21:20 2017 Monday ,06 February

UN resumes food air drops in Deir Ezzor

GMT 22:24 2017 Friday ,15 December

HRH Premier thanked by Cambodian counterpart

GMT 02:11 2017 Monday ,23 October

Oct24/Nov22

GMT 21:31 2017 Monday ,11 December

HM King congratulates Burkinabe President

GMT 20:22 2017 Monday ,23 October

EU deplores attack against police
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday