The market was taken aback by the hawkish ECB yesterday but a forecast like this underscores how far Europe is from 2% inflation.
Italy's central bank:
- Sees 8.8% inflation this year
- Sees 7.3% inflation in 2023
- Sees 2.6% inflation in 2024
GDP:
- Sees 3.8% growth this year vs 3.3% prior
- Sees 0.4% growth in 2023
- Sees 1.2% growth in 2024
That's some impressive nominal growth, at least.
