European Central Bank

Staff expect economic growth to average 0.9 per cent in 2026, 1.3 per cent in 2027 and 1.4 per cent in 2028.

The ECB staff macroeconomic projections foresee GDP growth in the euro area of 1.4% in 2026.

For inflation excluding energy and food, staff project an average of 2.3 per cent in 2026, 2.2 per cent in 2027 and 2.1 per cent in 2028.

The ECB staff macroeconomic projections foresee inflation in the euro area averaging 2.0% in 2026.

In the baseline, headline inflation is seen to average 2.6 per cent in 2026, 2.0 per cent in 2027 and 2.1 per cent in 2028.

We expect inflation to move above our 2% target before coming down again

In the baseline, headline inflation is seen to average 2.0 per cent in 2027.

For inflation excluding energy and food, staff project an average of 2.2 per cent in 2027.

Staff expect economic growth to average 1.3 per cent in 2027.

For inflation excluding energy and food, staff project an average of 2.1 per cent in 2028.

In the baseline, headline inflation is seen to average 2.1 per cent in 2028.

We are determined to ensure that inflation stabilises at our two per cent target in the medium term.

Staff expect economic growth to average 1.4 per cent in 2028.

The ECB plans to prepare for the potential issuance of the digital euro by 2029, assuming the European co-legislators adopt the necessary regulation by 2026.