In its quarterly survey of pension professionals (SPF), the European Central Bank (ECB) forecasts an increase in short- and long-term inflation expectations in the euro zone.
Main conclusions
Inflation is forecast for 2022 of 7.3%compared to 6.0% three months ago, and for 2023 of 3.6%compared to 2.4%.
2024 inflation forecast at 2.1%compared to 1.9% three months ago; long-term, at 2.2%compared to 2.1%.
The growth of GDP in 2022 stands at 2.8%compared to the 2.9% forecast three months ago, and in 2023 at 1.5%compared to 2.3%.
Long-term core inflation expectations rise to 2.2% from 1.9%.
Intensifying pressures on energy prices, tightening monetary policy and weakening household purchasing power are weighing on growth.
On the other hand, Madis Muller, member of the Governing Council of the European Central Bank (ECB), declared on Friday that the era of negative interest rates in the eurozone is over.
Source: Fx Street
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