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  1. ECB nudges up inflation, growth forecasts for this year

ECB nudges up inflation, growth forecasts for this year

The European Central Bank has raised slightly its forecasts for economic growth and inflation in the 19-country eurozone this year.

By: | Published: June 2, 2016 9:47 PM

The European Central Bank has raised slightly its forecasts for economic growth and inflation in the 19-country eurozone this year.

The bank increased its inflation outlook for 2016 to 0.2 percent from 0.1 percent previously. It sees growth at 1.6 percent, up from 1.4 percent.

The bank has been trying to raise inflation from the current dangerously low level of minus 0.1 percent toward its goal of just under 2 percent. Plunging oil prices have been one factor, and their recent recovery may help inflation higher.

The bank left its key stimulus measures unchanged Thursday at a meeting in Vienna. It has cut its benchmark rate to zero and is purchasing 80 billion euros ($89 billion) a month in bonds to pump newly created money into the economy.

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