Euro zone inflation forecasts subject to downside and upside risks: ECB's Visco

MILAN: Euro zone inflation forecasts below 2% in 2023-2024 are exposed both to downside and upside risks, the governor of the Bank of Italy, Ignazio Visco, said on Thursday.

"(Inflation) forecasts below 2% in 2023-24 are of course subject to both downside and upside risks," said European Central Bank governing council member Visco in an interview with Italian daily La Stampa.

ECB this month raised its inflation projections but cut its 2022 growth outlook as the COVID-19 pandemic and supply chain disruptions slow the euro zone's economic recovery.