Oil a drag on inflation, but boosting growth – ECB’s monthly bulletin

FXStreet (Mumbai) - The latest monthly economic bulletin from the European Central Bank reveals the bank is confident the low oil price is boosting growth even though it is dragging the inflation lower.

The bulletin says the high level of consumer confidence predicts sustained consumption growth in the coming quarters.

Key Quotes

“Advanced economies are likely to drive extra-euro area export growth in the near term. The slowdown in growth in emerging economies has dampened euro area export growth.”

“Risks to the EME outlook are on the downside and could weigh on the global economic recovery. Increased China uncertainty as a result of stock market turmoil.”

“ECB to react to changes in inflation outlook, undesired monetary tightening.”