September 13, 2018 / 3:08 PM / a year ago

ECB reaffirms 'balanced' outlook after cutting growth forecasts

The headquarters of the European Central Bank (ECB) and the Frankfurt skyline with its financial district are photographed on early evening in Frankfurt, Germany, March 25, 2018. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - The European Central Bank reaffirmed its view on Thursday that the risks facing the euro zone economy are “broadly balanced” even after trimming its growth forecasts.

“The risks surrounding the euro area growth outlook can still be assessed as broadly balanced,” ECB President Mario Draghi said at a post-policy meeting press conference.

Nevertheless, he noted a number of growing risk factors.

“Uncertainties relating to rising protectionism, vulnerabilities in emerging markets, and financial market volatility have gained more prominence recently,” he said.

The ECB kept its inflation forecasts unchanged but it lowered its growth projections slightly.

Reporting By Francesco Canepa; Editing by Hugh Lawson

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