Frankfurt, 12/06/2003 (Agence Europe) - While the ECB President Wim Duisenberg was addressing the European Parliament's Economic and Monetary Affairs Committee (see above), in its June newsletter the European Central Bank was unveiling much lower than expected growth forecasts for the eurozone and predicting a sharp rise in inflation in 2004.
The ECB now forecasts growth of between 0.4% and 1.0% in 2003 in the eurozone, rather than 1.1% - 2.1% (its December 2002 estimate for 2003). It has...