ECB RAISES EUROZONE GROWTH FORECASTS
Baku, September 3 (AZERTAC). The European Central Bank (ECB) has raised its forecast for eurozone growth for this year and next year.
ECB President Jean-Claude Trichet said the upgrade reflected the "stronger-than-expected rebound" in the zone`s economy.
He forecast GDP growth of between 1.4% and 1.8% for this year, and between 0.5% and 2.3% next year.
Earlier, the ECB kept eurozone interest rates on hold at 1%, as had been expected.
It is the 16th month running that rates have stayed at this record low, as the ECB continues to seek to help economies recover from the global downturn.
Most economists expect the ECB to keep rates at this level until 2011.
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