Draghi: economic outlook weak, not improving
FRANKFURT (Reuters) - The European Central Bank expects the euro zone economy to remain poor, ECB President Mario Draghi said after the bank left interest rates unchanged on Thursday.
"Economic activity in the euro area is expected to remain weak," Draghi told his regular monthly news conference after the ECB held its main interest rate at 0.75 percent.
He noted that recent economic surveys did not signal any improvement heading to the end of the year.
Highlighting weakness in the economy, German business confidence fell last month to its lowest since February 2010 and euro zone manufacturing shrank for the 15th month running
Draghi reiterated the ECB's view that inflation, which eased to an estimated 2.5 percent in October, would fall below 2 percent next year. The central bank targets inflation of close to but below 2 percent.
(Writing by Paul Carrel. Editing by Jeremy Gaunt.)
- Tweet this
- Share this
- Digg this
- UPDATE 3-Turkish president rejects Facebook, YouTube ban over wiretaps
- UPDATE 1-"Everything is fine", Pistorius told guard after shooting girlfriend
- Exclusive - Pimco's Gross declares El-Erian is 'trying to undermine me'
- UPDATE 3-MasterCard, Visa form group to push for better card security
- UPDATE 3-Ted Turner rushed to clinic in Argentina with appendicitis-media
Sahara’s investment programmes include schemes that are similar to a typical Indian bank’s fixed or recurring deposits. But the arrest of the company's chief Subrata Roy last week and the court case over an outlawed bond scheme are raising fears among some investors who worry they will not get their money back. Full Article