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 21:16 2016 Monday ,27 June

Zaki Badr discusses cleaning problem in Giza

GMT 21:46 2017 Saturday ,14 January

Turkey arrests 60 businessmen for alleged Gulen ties

GMT 22:38 2017 Friday ,24 March

Abbas meets with Merkel in Berlin

GMT 09:02 2017 Monday ,27 March

Tunisian Premier Concludes Visit to Sudan

GMT 15:54 2017 Friday ,01 September

Attorney General Directs Prosecutors to inspect Prison

GMT 09:22 2017 Sunday ,31 December

HM King condoles with Afghanistan President

GMT 10:12 2016 Wednesday ,06 April

Strong dollar, mild weather shrink H&M profits

GMT 17:03 2016 Saturday ,24 December

7 police killed in attacks in Afghansitan

GMT 13:51 2017 Friday ,17 March

Israel denies Syria shot down a warplane

GMT 04:08 2017 Thursday ,05 January

Carbon tax can fund clean energy transition

GMT 19:27 2016 Wednesday ,14 September

Alstom to go ahead with plans to shut down Belfort plant

GMT 01:44 2017 Friday ,15 December

Mennat-Allah underlines importance of landscapes

GMT 04:57 2017 Thursday ,14 December

Trump tells NASA to send Americans to Moon

GMT 21:43 2017 Wednesday ,11 October

Qabil discusses with Swiss delegation improving power

GMT 21:06 2017 Sunday ,17 September

OIC condemns suicide attack in Kabul

GMT 08:27 2017 Thursday ,27 April

Nokia reports another loss as networks sag

GMT 19:41 2017 Monday ,06 February

Elina Svitolina Claims Taiwan Open Title

GMT 09:39 2017 Friday ,03 February

Former Brazilian president Lula's wife dies of stroke
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