Eurozone will recover gradually, says ECB
2013-03-14 16:10:27
Eurozone economic activity should gradually recover later in 2013, supported by a strengthening of global demand and the accommodative monetary policy stance, the European Central Bank said in its monthly bulletin.
Recent data and indicators suggest that economic activity should start stabilizing in the first part of the year, it said. Risks to the inflation forecast continue to be broadly balanced, while risks to economic outlook continue to be on the downside, the bank reiterated.
According to staff macroeconomic projections, the real GDP growth is seen in a range between -0.9 percent and -0.1 percent in 2013 and between zero and 2 percent in 2014.
It would not be appropriate to take a decision on the interest rate, ECB Governing Council member Ewald Nowotny said today.
The ECB maintained its key rate at 0.75 percent early this month. ECB chief Mario Draghi at his post-decision press conference said the region will recover gradually.