ROME: The Bank of Italy has raised its growth forecast to more than 0.5 per cent in 2015 and above 1.5 per cent in 2016 due to quantitative easing by the European Central Bank.
The new forecast is a U-turn for the central bank which only last month — before the launch of QE — cut its growth forecast for this year to 0.4 per cent and saw 1.2 per cent growth next year.