Tag Archives: ECB Leave Rates Unchanged

Mish/ Mike Shedlock – ECB Leave Rates Unchanged, Significantly Downgrades 2013 Economic Forecast: Is Italy Falling Into The Abyss? – 6 December 2012

mish-image-15%Earlier today the ECB left its benchmark rate at a record low .75% stating the rate was “very accommodating”. What’s more interesting is the ECB’s Significant Downgrades To Growth And Inflation Forecasts.

The ECB downgraded its 2012 GDP forecast to a range of -0.6% to -0.4% from -0.6% to -0.2% previously, its 2013 GDP forecast to a range of -0.9% to 0.3% from -0.4% to 1.4% previously, and said its 2014 GDP forecast was for a range of 0.2% to 2.2% growth in the euro area. Continue reading