Expected ECB rate hike on Thursday would be a mistake; Ireland on track to return to strong growth in medium term
Apr 5th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Eurozone economy is growing at a much slower pace than expected at this stage of a recovery with GDP (gross domestic product) estimated to increase by only 1.5% this year and 1.7% in 2012, according to Ernst & Young’s Spring Eurozone Economic Forecast (EEF). The forecast says that the expected European Central Bank (ECB) rate hike on Thursday would be a mistake. The forecast also says that Ireland remains on track to return to strong growth in the medium term.