BRUSSELS, BELGIUM - NOVEMBER 27: Christine Lagarde, President of the European Central Bank speaks during the European Parliament's Committee on Economic and Monetary Affairs (ECON) meeting in Brussels, Belgium on Nevember 27, 2023.
(Photo by Dursun Aydemir/Anadolu via Getty Images)The European Central Bank on Thursday held interest rates steady for the second meeting in a row, as it revised its growth forecasts lower and announced plans to speed up the shrinking of its balance sheet.
The latest staff macroeconomic projections see average real GDP expanding 0.6% in 2023, from a prior forecast of 0.7%.
Headline inflation is meanwhile seen averaging 5.4% in 2023, 2.7% in 2024 and 2.1% in 2025.
Members see core inflation, excluding energy and food, averaging 5% this year and 2.7% in 2024, 2.3% in 2025, and 2.1% in 2026.
Persons:
Christine Lagarde, Dursun Aydemir, James Smith, CNBC's Joumanna Bercetche
Organizations:
European Central Bank, European Parliament's, Economic, Monetary Affairs, Getty, ECB, ING
Locations:
BRUSSELS, BELGIUM, Brussels, Belgium, Anadolu