2023-09-14 15:29:00
The European Central Bank has revised its inflation forecasts for the euro zone due to energy prices, while lowering its growth forecasts until 2025.
By IM with AFP
© Alexandre MARCHI / MAXPPP / PHOTOPQR/L’EST REPUBLICAIN/MAXPP
Published on
En due to the impact of energy prices, the European Central Bank (ECB) raised its inflation forecasts for the years 2023 and 2024 for the euro zone on Thursday September 14. Furthermore, it lowered its growth forecasts until 2025. The institution’s new macroeconomic projections forecast a price increase of 5.6% in 2023, then 3.2% in 2024 and 2.1% in 2025. , approaching the medium-term objective of 2.0%.
Inflation excluding the price of energy and food was maintained in 2023, at 5.1%, while inflationary pressures, fueled in particular by increases in wages and margins, remain high, and was lowered both following years.
GDP (Gross Domestic Product) growth was significantly reduced to 0.7% in 2023, compared to 0.9% previously, then 1.0% in 2024 and 1.5% in 2025.
New increase in the reference rate
The European Central Bank (ECB) raised its key rates by 0.25 percentage points on Thursday, making a tenth increase in a row as part of its monetary tightening policy to combat inflation in the euro zone.
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« Inflation continues to slow but is still expected to remain too high for too long », indicated the institution in a press release. The benchmark deposit rate is raised to 4.0%, a level never reached since the launch of the single currency in 1999. The refinancing rate and the marginal lending facility rate are respectively at 4.50 % and 4.75%.
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