The Bank of Italy has updated its forecasts for the year ahead.
- GDP seen up 0.6% vs 0.4% prior
- Inflation seen up 6.5% vs 7.3% prior
Much (maybe all?) of that is a function of falling energy prices, which itself was a function of better weather. But it's likely indicative of Europe as a whole and adds momentum to the idea that the ECB won't need to hike as much as Lagarde indicated in December.
