In the Economic Bulletin published on Thursday, the European Central Bank (ECB) offers a detailed analysis of the current and future economic situation.
Additional comments
On the basis of its current assessment, the Governing Council has decided to raise the three key ECB interest rates by 75 basis points.
The Governing Council took this decision, and expects to keep raising interest rates, because inflation is still too high and it is likely to remain above its target for an extended period.
The members of the ECB they now expect the economy to grow 3.1% in 2022, 0.9% in 2023 and 1.9% in 2024.
The macroeconomic projections of the ECB experts for the euro zone they expect headline inflation to remain high in the short term, before falling to averages of 5.5% in 2023 and 2.3% in 2024.
The baseline fiscal projections continue to be surrounded by high levels of uncertainty, mainly related to the war in Ukraine and developments in the energy markets.
Growing concerns about the economic outlook and tighter monetary policy continued to weigh on eurozone corporate bond spreads, which widened across the board during the review period.
Source: Fx Street
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