European Central Bank provided for possible contraction of the economy of the eurozone in 2012

European Central Bank (ECB) lowered today significantly its growth forecast for the eurozone in 2012, year in which estimated that there could be even a contraction.

The gross domestic product (GDP) will be placed in 2012 in a range between - 0.4 and 1%, while its previous forecast was a growth of 1.3%, in a strip between 0.4% and 2.2%.

This year the ECB confirmed its forecast of growth between 1.5% and 1.7%, September which means an average of 1.6%.

The Monetary Authority introduced their first forecasts to 2013 with a growth of 0.3% to 2.3%.

Previously the Governing Council of the ECB decided by consensus to lower interest rates by a quarter percentage to 1%, its level point historically under and which already was between May 2009 and April last.

The President of the European Central Bank (ECB), Mario Draghi, announced two new operations of u000ainjection of liquidity in euros with a maturity of 36 months to facilitate credit to households and companies.

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