The ECB Has Revised Euro Zone Growth In 2019 And 2020 To 1.1% And 1.2% Respectively.

According to the Austrian media pocket newspaper recently quoted the ECB data, ECB economists revised the global economic growth rate in 2019 and 2020 to 1.1% and 1.2%. Due to the fall of confidence index and the uncertainty of global economic situation, the European Central Bank lowered the inflation rate forecast in 2019, 2020 and 2021 to 1.2%, 1% and 1.5% respectively.

Although the employment and wage growth in the euro area still supports the economy, the European Central Bank Management Committee adopted a series of monetary easing measures in September 12th this year, including reducing the overnight interest rate to -0.50%, restarting the quantitative easing (QE) plan from November 2019, and relaxing the third round of "directional long term refinancing operation" (TLTRO-III) to deal with the euro area's economic and downside risks.