ECB survey: Euro-zone inflation expectations revised down

According to the result of the latest survey of professional forecasters conducted by the European Central Bank (ECB), inflation expectations have been revised down by 0.1% for each year in the projection horizon.

Key highlights:

   •  2019 inflation seen at 1.3% (previously 1.4%).
   •  2020 inflation seen at 1.4% (previously 1.5%).
   •  2021 inflation seen at 1.5% (previously 1.6%).
   •  Longer-term inflation projection cut to 1.7% from 1.8%.

   •  2019 real GDP growth seen at 1.2% (unchanged).
   •  2020 real GDP growth seen at 1.3% (previously 1.4%).
   •  2021 real GDP growth seen at 1.4% (unchanged).
   •  Longer-term GDP growth is seen at 1.4%.