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    22.01.2016 10:57 European Central Bank’s Survey of Professional Forecasters: forecasters lower their inflation forecasts

    The European Central Bank (ECB) released its Survey of Professional Forecasters (SPF) for Q1 2016 on Friday. Forecasters cut their inflation forecasts. Eurozone's inflation is expected to be 0.7% in 2016, down from October estimate of 1.0%, 1.4% in 2017, down from October estimate of 1.5%, and 1.6% in 2018.


    Long-term inflation forecasts (for 2020) was lowered to 1.8% from 1.9%.


    SPF respondents said in its survey that the downgrade was driven by oil price developments.


    The economic growth in the Eurozone is expected to expand 1.7% this year and 1.8% in 2017, both unchanged from October estimate.


    The growth is expected to be driven by private consumption and investment.

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