The European Central Bank is preparing to cut its inflation outlook across its forecast horizon at Thursday’s policy meeting because of weaker energy prices, according to euro-area officials familiar with the matter.The yesterday's drop of more than 3% in oil will support the ECB's intentions to change inflation expectations, hence retaining current monetary policy at low interest rates and a 62 billion-dollar quantitative easing program. Euro per month. The ECB’s draft projections now show consumer-price growth at roughly around 1.5 percent each year in 2017, 2018 and 2019, compared to previous projections in March, which foresaw rates of 1.7 percent, 1.6 percent and 1.7 percent, respectively.
Source: Bloomberg Pro Terminal
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