The European Central Bank will cut some of its growth forecasts at its meeting o...
FRANKFURT - The European Central Bank will cut some of its growth forecasts at its meeting on Thursday and its projections will also show only a modest rise in underlying and headline inflation in the coming years, two sources familiar with the matter said.
Growth will be not far above 1 percent both this year and next, the figures are expected to show, underpinning the ECB’s plans to approve more stimulus, the sources, who asked not to be named, told Reuters. It is almost certain to cut rates, promise to keep rates low for longer and provide banks relief from the side effects of negative rates. However, new asset purchases, priced in by markets, are not a done deal with some conservative policymakers opposing the move.
Although the domestic economy has so far remained resilient to weak foreign demand and overseas political uncertainty, more recent figures are starting to show the effect of contagion with a slowdown in employment growth an weakness in some sentiment indicators.
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