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ECB expects growth slowdown, but estimates likely out of date

The European Central Bank cut its growth forecasts for this year and next on Thursday but said the new estimates, which were collated before the coronavirus outbreak in Europe, were probably already out of date. The ECB said it now expects the euro zone's economy to grow by 0.8% this year, 1.3% in 2021 and 1.4% in 2022. This compares to an expansion of 1.1% for 2020 and of 1.4% for each of the following two years projected in its December forecasts. EC

UK consumer lending growth slows again to weakest in over 5 years - BoE

Lending to British consumers slowed to its weakest rate in more than five years in August, adding to signs that household demand may be softening in the run-up to Britain's departure from the European Union, Bank of England figures showed on Monday. The BoE data showed the growth rate in unsecured consumer lending fell to 5.4% in the year to August from 5.6% in July, its weakest annual growth rate since March 2014. Consumer demand has been relatively robust si

HIGHLIGHTS-Draghi comments at ECB press conference

The European Central Bank kept policy unchanged as expected on Thursday, staying on track to end bond purchases this year and raise interest rates next autumn, even as protectionist moves around the globe drag on growth.

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