ECB revises eurozone growth, inflation forecasts

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The European Central Bank revised on Thursday its 2010-2011 forecasts for eurozone growth and inflation amid heightened tension over deficit and debt crises in many of its 16 member states.

The ECB now expects the economy of 330 million people to grow by 1.0 percent in 2010 and 1.2 percent in 2011.

In March, the ECB had forecast growth of 0.8 percent and 1.5 percent, respectively.

Inflation for 2010 is now estimated at 1.5 percent, and for 2011 at 1.6 percent.

The previous outlook for consumer price increases was for 1.2 percent and 1.5 percent, respectively.

© 2010 AFP

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