High oil prices to hit 2005 growth says EC report
In its "autumn forecasts", Brussels reduced its 2005 growth expectations from 2.3 percent (its forecast in Spring) to 2.0 percent due to a "sharp" rise in oil prices.
The report follows concerns of European Central Bank President Jean-Claude Trichet who said Monday in the European Parliament, "If oil prices were to remain high or even increase further, they could dampen
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