European Central Bank Monthly Bulletin May 2009; Forecasters expect Eurozone GDP to contract by 3.4% in 2009
May 14th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Central Bank on Thursday published its Monthly Bulletin for May, after cutting interest rates to record low 1% last Thursday. The ECB Survey of Professional Forecasters (SPF) for the second quarter of 2009, which had 52 responses, shows a revision in the growth expectations for 2009 in the Eurozone downwards, to a real GDP contraction of 3.4%.