Issing: CPI risks balanced, downside growth risks

The European Central Bank still believes euro-zone economic growth will gradually recover this year, while inflation will slowly fall back below 2%, ECB Chief Economist Otmar Issing said in a speech on Monday.

"The most likely scenario is that after a slow start we will see a recovery of economic activity in the euro zone in the course of 2003, while the inflation rate will fall to a level below 2% again," Issing said at a reception for bankers.

Issing said the ECB's assessment is unchanged fro

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