Small shift to 2017 from 2016

  • 2016 GDP growth seen at 1.7% vs 1.6% in June
  • 2017 GDP seen at 1.6% vs 1.7% in June
  • 2018 GDP seen at 1.6% vs 1.7% in June

Inflation forecasts

  • 2016 inflation 0.2% vs 0.2% in June
  • 2017 inflation 1.2% vs 1.3% in June
  • 2018 inflation 1.6% vs 1.6% in June

The growth and inflation forecasts, on net, are fractionally lower but it's not enough to trigger any kind of shift from the ECB.