European stock exchanges fell after ECB meeting
The main European stock indexes declined after the announcement of the results of the European Central Bank meeting. At closing, the DAX (Germany) lost 1.71%, FTSE 100 (UK) - 1.54%, CAC 40 (France) - 1.4%. The European regulator decided to leave its key rate unchanged at zero, Prime reported. However, according to its statement, it will be increased by 25 bp in July; in addition, from the first of the month the buyout of net assets will be stopped. The central bank's growth forecast for the region's economy for this year and next year has been revised downward. The new estimate for 2022 is 0.9 percentage points lower than the previous one, at 2.8%, while for 2023 it is 2.1% (-0.7 percentage points). Inflation, in his opinion, will continue to grow at a faster pace this year, reaching 6.8% (the previous forecast was 5.1%). According to Carsten Brzeski, senior economist at ING, as quoted by the Associated Press, it is impossible to predict now whether the ECB should be expected to raise rates continuously in the future.