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At a press conference following the results of the meeting of the European Central Bank, its head Mario Draghi said that due to the deteriorating external demand, the ECB lowered the forecast for GDP growth in the eurozone in 2018 from 2.1% to 2%. For 2019, the forecast has deteriorated to 1.8% from 1.9%, and the growth forecast for 2020 is maintained at 1.7%. The inflation forecast is unchanged. The ECB chairman also said that the regulator expects that the euro exchange rate against the US dollar in 2018 will be 1 dollar 18 cents per euro, and in 2019 and 2020 the rate will drop to 1 dollar 14 cents per euro. Draghi also announced the ECB's forecast for oil prices, according to which Brent crude in 2018 will cost an average of $71.5 per barrel. Next year it is expected to increase to 71 dollars 70 cents per barrel, and in 2020 - a decrease to 69 dollars per barrel.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...
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