ECB lowers its inflation and GDP growth forecasts for eurozone for 2023-2024

The European Central Bank (ECB) has lowered its inflation and GDP growth forecasts for the eurozone for 2023 and 2024.

Report informs via Interfax that inflation in the eurozone will be 5.4% in 2023 and 2.7% in 2024.

In September, the ECB expected inflation of 5.6% and 3.2%, respectively.

Eurozone GDP will increase by 0.6% in 2023 and 0.8% in 2024, the ECB predicts. In September, growth was expected by 0.7% and 1%, respectively.