September 13, 2018 / 12:49 PM / 2 months ago

ECB reaffirms 'balanced' outlook after cutting growth forecasts

FILE PHOTO: The headquarters of the European Central Bank (ECB) are photographed in front of the skyline with its banking towers in Frankfurt, Germany, November 22, 2017. REUTERS/Kai Pfaffenbach/File Photo

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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