ECB raises 2016 Eurozone growth forecast

ECB economists raised their growth forecast for the Eurozone economy in 2016 to 1.6% from 1.4%, and continue to project an expansion of 1.7% in 2017. ECB still sees Eurozone growing 1.7% in 2017 and downgraded 2018 forecast to 1.7%, from 1.8% projected in March.

Meanwhile, ECB CPI forecast for 2016 was slightly lifted to 0.2% versus 0.1% previously estimated. ECB still forecasts annual CPI at 1.3% in 2017 and 1.6% in 2018.      

The full details will be published after the press conference.