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ECB Raises 2007 Forecasts for Eurozone Growth, Inflation: Report

The European Central Bank has revised upward its 2007 forecasts for eurozone growth and inflation, according to Financial Times Deutschland, citing sources.

The newspaper did specify the revised levels but noted the changes mean there is a risk that the ECB will miss its 2007 target of keeping the inflation rate below the 2% level.

The previous forecast released last March was for euro zone inflation of 1.8% this year and 2.0% for next year while GDP growth was put at 2.5% and 2.4%, respectively. The ECB, which publishes its forecasts every three months, is due to release the latest data on Wednesday, when its Governing Council is also scheduled to hold its interest rate policy meeting.

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