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Forecast raised
September 3, 2010, Friday
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Print Edition
Print Edition
THE European Central Bank yesterday raised its growth forecast for this year and next after a healthy second-quarter performance from the 16 countries that use the euro.
The ECB also left its benchmark refinancing rate at a record-low 1 percent for the 16th consecutive month.
ECB President Jean-Claude Trichet said the ECB is now projecting growth this year of 1.4 to 1.8 percent - a range that centers on 1.6 percent, up from the 1 percent forecast in June.
Its forecast for 2011 was for growth between 0.5 and 2.3 percent. That range centers on 1.4 percent, up from the previous 1.2 percent.
The ECB also left its benchmark refinancing rate at a record-low 1 percent for the 16th consecutive month.
ECB President Jean-Claude Trichet said the ECB is now projecting growth this year of 1.4 to 1.8 percent - a range that centers on 1.6 percent, up from the 1 percent forecast in June.
Its forecast for 2011 was for growth between 0.5 and 2.3 percent. That range centers on 1.4 percent, up from the previous 1.2 percent.
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