ECB is confident in the rise of the euro area economy

The chief economist and member of the executive board of the European Central Bank, Peter Prat, speaking in Geneva, said he was confident in the economic recovery of the eurozone, despite disappointing economic data, Bloomberg reports. According to him, «the latest information is still consistent with the steady and wide growth of domestic demand”. The agency notes that the ECB considers the weakening of the economic momentum to be only a transition to more stable growth rates, it is connected, inter alia, with temporary factors, such as the Easter holiday period. At the April meeting, the ECB Board of Governors decided that they needed more time to assess the situation, and did not discuss the curtailment of the incentive program.

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