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Rehn: June Forecasts To Show Higher Inflation, Lower Growth Than March

ECB

ECB's Olli Rehn commenting this morning that the first rate hike is likely to take place this summer (no surprise), but also providing his view that the ECB's June macroeconomic projections will be “closer to the adverse and severe scenarios than the [March 2022 projections] baseline, especially due to continuously high energy prices and the prolonged supply chain bottlenecks”.

  • In short, that means weaker growth and higher inflation in 2022 than had been previously expected. See table below.

Source: ECB 2022 Projections

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