ECB releases the results of its latest survey of professional forecasters
- 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%)
- 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)
The prior forecasts can be found here. Draghi already preempted the weaker forecasts in his speech yesterday so this doesn't come as too much of a surprise.
However, the survey showed that economists see a record low forecast of long-term inflation expectations (just 1.7%), falling from the previous forecast of 1.8%. That's a bit of a sign that market participants may be losing some confidence in the central bank's ability to get things back on track in the coming months.
