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Mario Draghi (pictured) took over as president of ECB this week, replacing Jean-Claude Trichet, who remained at the post for eight years. Photo by EPA/BGNES
In a surprise move, the European Central Bank (ECB) cut Thursday Eurozone interest rates to 1.25% from 1.5%.
New ECB president Mario Draghi, cited by BBC, told the media that growth in the Eurozone was likely to remain weak.
He said that Europe's financial crisis and a slowdown in global growth meant the Eurozone is facing an "environment of high uncertainty".
Meanwhile, the Group of 20 industrial and developing nations G-20 are holding an emergency meeting in Cannes to discuss the Eurozone debt crisis.
"Some of the risks to growth were already evident and this makes a significant downward revision to forecasts and projections for average real GDP (Gross Domestic Product) growth in 2012 very likely," Draghi has stated.
Inflation in the Eurozone, currently 3%, would remain at "high" levels for some months, driven by higher energy and commodity prices.
But he forecast that inflation would fall to below 2% during 2012.
Draghi took over as president of the bank this week, replacing Jean-Claude Trichet, who remained at the post for eight years.
The introduction of the euro in Bulgaria has so far produced only a limited and largely one-off effect on consumer prices, according to an analysis by the European Central Bank
Nikolay Vassilev, former Minister of Economy, dismissed claims that prices in Bulgaria have doubled following eurozone-related developments, arguing instead that inflation remains low and that public fears about sharp price increases are exaggerated.
The Bulgarian real estate market is showing signs of cooling in early 2026, with experts reporting a slowdown in transactions and a shift toward more balanced conditions between buyers and sellers
The first months following Bulgaria’s entry into the eurozone suggest a stable start and rising investor confidence, even though it is too early to draw long-term conclusions
Inflation in the eurozone picked up slightly in February, reaching 1.9% on an annual basis compared to 1.7% in January, according to final Eurostat data.
Annual inflation across the eurozone eased to 1.7% in January, marking a 16-month low and down from 2.0% in December 2025, according to preliminary data from Eurostat.
EU countries will each have to secure guarantees worth billions of euros for the loan to Ukraine funded by frozen Russian assets, Politico’s Brussels edition reports.
Bulgaria's Minister of Defense Todor Tagarev admitted the possibility that an explosive device might have been planted on board the crashed plane in which Yevgeny Prigozhin was traveling
The European Commission has announced that it is preparing criminal proceedings against Bulgaria, Cyprus, Greece, Malta, and Portugal for incorrect application of the rules on the exchange of data on criminal records and the establishment of the relevant
The European Commission has started an evaluation of the Plan for Reconstruction and Development of Bulgaria, said the spokesman of the European Commission Eric Mamer. The document was submitted to the Commission on 15 October.
58% of Bulgarians do not support the introduction of the euro as the official currency in the country. This shows a study prepared by Trend agency specifically for the financial forum NEXT DIFI 2021, organized by b2b Media for the fifth year. The data dur
Too late Bulgaria began to explain its own position towards North Macedonia, as it should have been clear to our European partners some time ago.
Aniventure Comic Con Returns to Bulgaria with Star Guest Christopher Judge!
Global Fuel Shock: Oil Jumps Over 40% Since Iran War Began
