The medium-term outlook for global activity remains the reinforcement of growth, even if at a pace pace slower to the pre-crisis period, says a report released by the European Central Bank (ECB). The ECB’s financial bulletin projects that Eurozone inflation will rise above 1% at the turn of the year and will stand at 2013 levels, with global growth picking up speed. The bulletin forecasts developed economies will generally have sustainable growth rates, while economic growth appears to have reached the lowest point in the economies of emerging markets. Global economic outlook continues to be plagued by the negative impact of low raw material costs for goods exporters, the correction in the Chinese economy and political instability in the US.
Inflation to pick up, says report