ECB lowers eurozone GDP growth forecast to 2 pct in 2018

Aurel Dragan 14/09/2018 | 07:58

The European Central Bank (ECB) lowered its eurozone GDP growth rate forecast in 2018 and 2019 due to weaker global demand, according to ECB President Mario Draghi. The advance of the eurozone economy is estimated at 2 percent, down from 2.1 percent.

For 2019, the forecast is at 1.8 percent, down from 1.9 percent, the increase estimated in June. In 2020, GDP would go up by 1.7 percent, while the annual inflation in the eurozone was set at 1.7 percent in 2018 and over the next two years. .

The risks faced by the euro-zone economy are “largely balanced”, although there are still a number of risks, explained Mario Draghi.

“Uncertainties about increasing protectionism, emerging market vulnerabilities, and volatility in financial markets have recently become more prominent,” said Draghi.

On Thursday, the European Central Bank decided not to change interest rates and maintain ultra-relaxed monetary policy and also confirmed it is on schedule to finalize its bond purchase program by the end of the year.

In a press release from the ECB, the institution states that at the meeting held on Thursday, the Governing Council maintained monetary policy rate at zero, while interest on the marginal lending facility was kept at 0.25 percent, and interest on deposits, which applies to banks that store excess liquidity at the central bank for a 24-hour period, was left at minus 0.40 percent.

BR Magazine | Latest Issue

Download PDF or read online: November 2022 Issue | Business Review Magazine

The November 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Samsung Remains Top Consumer Tech Provider on Romanian Market.” Read
Aurel Dragan | 29/11/2022 | 10:17

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of
    I agree with the storage and handling of my data by
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue