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MNI BRIEF: ECB Survey: EA Inflation, GDP, Jobs Expectations Up

(MNI) LONDON
(MNI) Frankfurt

Headline inflation expectations for 2022 have been revised up to 3.0%, up to 1.8% (+0.1%) for 2023 and 1.9% for 2024 (not previously surveyed), according to the ECB's Q1 Survey of Professional Forecasters released Friday, with expectations for 2026 up to 2.0% from 1.9% in the previous round.

If correct, that still leaves inflation below target in the medium term, a key pillar in the ECB's policy strategy.

GDP growth expectations were revised down from 4.5% to 4.2% in 2022, up from 2.2% to 2.7% for 2023, and were unchanged at 1.5% longer-term. Expected unemployment was revised down by between 0.2% and 0.3% for all horizons, standing at 7.2% for 2022, 6.9% for 2023, 6.8% for 2024 and 6.7% longer-term. Uncertainty remained elevated compared with pre-pandemic levels.

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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
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