ECB ups growth forecast to 1.6% and holds rates

clock

Economic growth in the eurozone will finish higher than forecast in 2010, the European Central Bank (ECB) has said.

The ECB expects growth this year to be about 1.6%, up from its June forecast of 1%. Next year it forecasts growth of 1.4%, compared to its previous estimate of 1.2%. ECB president Jean-Claude Trichet, who also dismissed fears of a double-dip recession, said the optimistic forecast resulted from a recent growth spurt and expects further "positive underlying momentum" going forward. However, he also warned the figures could be overly-upbeat and sounded a cautionary note over slower growth in other advanced economies - widely interpreted as a reference to the US. The ECB left eurozone...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

What two pizzas tell us about Bitcoin

What two pizzas tell us about Bitcoin

Laszlo Hanyecz really needed a slice...

Laith Khalaf
clock 19 December 2024 • 6 min read
Rise in UK inflation 'unwelcome' ahead of BoE interest rate meeting

Rise in UK inflation 'unwelcome' ahead of BoE interest rate meeting

Bank of England MPC meeting due on Thursday

Sorin Dojan
clock 18 December 2024 • 3 min read
Trump, tariffs and why UK companies can still appeal

Trump, tariffs and why UK companies can still appeal

Is a trade war inevitable?

Sheldon MacDonald
clock 11 December 2024 • 4 min read