Growth down inflation up, predicts ECB

The European Central Bank's December monthly report released on Thursday 11 December increased its inflation forecasts for 2004 to a range of between 1.3 - 2.3 per cent for the euro area, revised significantly upwards from the 0.7 - 1.9 per cent projected in June.

Source: EUpolitix

The European Central Bank has revised its GDP forecast for 2003 downwards but leaves forecasts unchanged for next year.

Inflation forecasts for 2003 and 2004 have been boosted in the bank's December forecast released

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