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Italian central bank raises economic growth forecasts

Xinhua, February 8, 2015 Adjust font size:

The Italian central bank has revised up growth forecast of Italy's gross domestic product (GDP), the bank's governor Ignazio Visco said here on Saturday.

Speaking at a conference, Visco estimated Italy's economy to expand more than 0.5 percent in 2015, one percentage-point more compared to the 0.4-percent growth forecast by the central bank last month.

In 2016, the governor added, Italy's GDP could increase more than 1.5 percent, compared with a previous forecast of 1.2 percent growth.

The economic-growth forecasts were raised after the European Central Bank (ECB) last month launched its quantitative easing program (QE) to pump over one trillion euros (1.13 trillion U.S. dollars) into the eurozone economy in a bid to address risks of deflation.

Visco said the Italian central bank's purchases of government securities in the ECB program may amount to around 130 billion euros. (1 euro = 1.13 U.S. dollars) Endit