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The
ECB has overshot its target for years and jacked up interest
rates to record highs last year to tame price pressures, but it
could still take until the end of 2025 to get back to its goal.
The bank's quarterly Survey of Professional Forecasters, an
input in policy deliberations, sees inflation slowing even
quicker than ECB staff predict and expects price growth then to
steady around the ECB's target.
Inflation this year could average 2.4%, in line with the
survey's prediction three months ago and could then slow to 2.0%
next year, as predicted earlier, both below the ECB's own
in-house projections.
By 2026, inflation could dip to 1.9% but over the long term -
defined as 2028 - it will be at 2%.
The ECB left interest rates unchanged on Thursday but kept the
door open to further policy easing, partly as economic growth
appears weak, pointing to easing prices pressures from output.
Survey respondents raised their growth projection to 0.7% this
year from 0.5% but cut next year's forecast to 1.3% from 1.4%.
(Reporting by Balazs Koranyi; Editing by Hugh Lawson)
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