ECB watchers cut inflation forecasts
They do not, however, expect deflation in eurozone
The European Central Bank's latest Survey of Professional Forecasters (SPF) reveals a drop in short- and long-term inflation expectations, but little concern over a deflationary scenario materialising in the eurozone.
The average forecasts for annual HICP inflation fell to 0.5%, 1% and 1.4% for 2014, 2015 and 2016 respectively – a downward revision of either 10 or 20 basis points at every horizon. Longer-term expectations appear more resilient, with the average forecast for 2019 dropping by six
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