FRANKFURT (dpa-AFX) – According to circles, representatives of the European Central Bank (ECB) are more optimistic about the further economic development. However, the central bank should only slightly raise its forecasts for economic growth, writes the Bloomberg news agency on Wednesday. The agency cites ECB staff who are dealing with the issues. The central bank’s projections will be released this Thursday after the meeting of the Governing Council.
According to the report, private consumption in particular has recently performed better than expected by the ECB. For now, the central bank does not have to expand the PEPP bond purchase program launched during the crisis. However, this is subject to change. The program has a volume of 1.35 trillion euros.
In the Eurozone the economy collapsed drastically in the midst of the Corona crisis. In the second quarter, economic output had shrunk by 11.8 percent. Recently, however, some economic data had been a positive surprise. However, in view of the ongoing corona crisis, any outlook is fraught with great uncertainty.
The euro rose after the news. German Bunds increased their losses. The stock market expanded its profits./jsl/bgf/jha/