INFLATION in the eurozone will not likely stay below the European Central Bank’s (ECB) target during the coming years despite stimulus intended to kick start price growth, an ECB survey of Professional Forecasters showed Friday.

    The ECB launched a 60-billion-euro (US$66 billion) per month asset-buying program in March to stimulate inflation and the bank’s staff had forecast inflation rising to 1.8 percent by 2017 on the back of the measures from just 0.2 percent in June.

    But the survey saw 2017 inflation at 1.6 percent, unchanged from a prediction three months ago and still below the ECB’s target of close to but below 2 percent.

    For this year, inflation is at 0.2 percent, up from 0.1 percent three months ago. The 2016 rate is at 1.3 percent, up from 1.2 percent.

    The ECB’s survey, based on responses from 54 experts in the European Union, also showed a 10-basis-point increase in the pace of expected real gross domestic product (GDP) growth for next year, now at 1.8 percent.

    “Real GDP growth expectations are broadly unchanged on an upward path, with ... respondents highlighting accommodative monetary policy and low oil prices as the main supporting factors,” the bank said.

    Unemployment expectations for the next two years fell by 10 basis points each to 10.5 percent and 10 percent, respectively.

    (SD-Agencies)