Those busy beavers at the ECB have been working hard this year. Not only have they got to come up with the QE blueprint they’ve also got to stir the tea leaves and update the economic projections that the governing council use to assess policy.

I expect the green pen is still lost down the back of the draw and extra stocks of red pens have been ordered


We know growth is crap but it will be the inflation expectations that may catch more market attention.

Here’s this years projections so far;

ECB staff projections 04 12 2014

ECB staff projections 04 12 2014