09/09/2004 (Agence Europe) - On Thursday the European Central Bank published its monthly bulletin in which president Jean-Claude Trichet review elements discussed at the last Board of Governors' meeting. Prospect for growth, between 1.6% and 2.2% on average and prospects for 2005 between 1.8% and 2.8% according to ECB experts. Uncertainty regarding medium and long term oil prices could see forecasts revised downwards, the same for inflation, but Trichet is optimistic. The current situation illustrates that: in EUR, the rise in oil prices is less than during previous episodes; prices are well below peaks in the 1970s and 80s; the rise is not only due to supply but to the strong expansion in the world economy. Inflation is expected to fall back to below 2% in 2005.