The monetary entity also exposed its plans to drain the system of cash, also within the framework of its fight against inflation, which in November registered 10% interannual for the average of the 19 countries, below the 10.6% registered in October. It was the first contraction in 17 months since July 2021.
The monetary entity also projected that the economy in the euro zone could contract in the last quarter of the year and in the one that follows, mainly due to the energy crisis, uncertainty, the weakening of world economic activity and the tightening of financing conditions. However, they estimate that the recession will be short and shallow, and that next year’s growth will be moderate.
He also estimated that the inflationexcluding energy and food, will be 3.9% on average by 2022 and will become 4.2% by 2023.
Finally, from the common bank they pointed out that they are willing to adjust all instruments to ensure the objective of returning inflation to 2% desired in the medium term.
Source: Ambito
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