Eurozone set to grow 0.7% in 2009 - 1% above IMF forecast; ECB should cut benchmark interest rate to 3% in coming months
Oct 24th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Eurozone is set to grow 0.7% in 2009 - 1% above the recent IMF forecast and the ECB should lower its benchmark interest rate to 3% in coming months, according to a report published on Thursday. It says that Europe is well-positioned to recover in 2009 thanks to a relatively competitive corporate sector, comparatively smaller excesses on financial markets, high levels of personal savings, an improving human capital base, and relatively strong public finances. Germany and France set to grow faster in 2009 than Spain, United Kingdom and Italy.