European Central Bank makes a revision on growth and inflation forecasts in the meeting which organized yesterday. The central bank decided not to change interest rates in line with market expectations at a meeting of monetary policy yesterday. After the decision, Euro gained value against some currencies, but the main factor accelerating the rise was the statements of ECB President Mario Draghi. Draghi said that they did not talk about ending the monetary expansion at the meeting, and stated that interest rates would remain at a lower level for a long time.
The most important part of the meeting was the upward revision of the institution's forecasts. The institution that attracted the expectation of the rate of increase of the Consumer Price Index of 2017 to 1.7 % from 1.3 % and the growth expectancy of 1.8 % from 1,7 %. Draghi also cautioned that economic risks were reduced in his speech. However, the existence of political risks until the election year of 2017 and the elections in France, especially in the Euro Area, could overwhelm the economy.
- Date: 10 March 2017 Fri 07:42
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