ECB lowers growth forecast
The ECB monthly bulletin showed that the regulator is not really optimistic on the economic prospects of the block. The bank lowers growth forecast for 2013 from -0.4% to -0.6% and for 2014 from 1.0% to 0.9%. Inflation forecast for 2013 was lowered from 1.7% to 1.5%, while the forecast for 2014 was reduced from 1.6% to 1.5%.
According to the regulator, recent data show some signs of economic stabilisation, but the economic recovery in 2014 will still remain slow. Interest rates are expected to remain at present or lower levels.