Inflation 'marginally' higher this year: ECB

THE ECB has warned that inflation this year will be 2.1%, marginally above the 2% target for the region.

However, it has raised its forecast for growth fractionally from 1.6% in December to 1.7%, but has cut the growth figure for next year from 2.4% to 2.2%.

In its latest bulletin the bank has also raised the 2005 inflation figure from 1.6% to 1.7% a figure well ahead of the 1.8% for the year to end December 2003.