ECB sees euro zone inflation surge

FRANKFURT: Euro zone inflation will exceed 1 per cent at the turn of the year, hitting a level not seen since late 2013, and global growth is picking up speed, the European Central Bank said in an economic bulletin on Thursday. “The medium-term outlook for global activity remains one of strengthening growth, albeit below its pre-crisis pace,” the ECB said. Still, the global outlook remains overshadowed by the adverse effect of low raw materials prices on commodity-exporters, the rebalancing of the Chinese economy, and policy uncertainty in the United States, the ECB said in the statement. — Reuters