| ECB's Draghi warns of growing risks to eurozone economic recovery |
| Last Updated(Beijing Time):2012-06-06 21:39 |
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European Central Bank (ECB) President Mario Draghi on Wednesday warned of growing risks to the eurozone economic recovery.
"Economic growth in the euro area remains weak with heightened uncertainty weighing on confidence and sentiment giving rise to increased downside risk to the economic outlook," the ECB chief said at a news conference.
The remarks came after the ECB Governing Council decided to keep the rate for its main refinancing operations unchanged at 1.0 percent.
The bank on Wednesday forecast that the gross domestic product (GDP) growth in the 17-country euro area will contract by 0.1 percent this year, the same as its prediction three months ago.
But the bank trimmed its 2013 forecast from a growth of 1.1 percent to 1.0 percent.
Inflation in the eurozone is to reach 2.4 percent in 2012 and slow to 1.6 percent in 2013, the bank predicted. |
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