12 July 2004, 14:04  Eurozone outlook reasonably positive - ECB's Hurley

Current prospects for the euro zone economy are "reasonably positive" with growth expected to average 1.7 percent in 2004 and 2.1 percent next year, European Central Bank Council member John Hurley said on Monday. Inflation in the region will be above two percent this year and early in 2005, largely due to higher oil prices, Hurley, Ireland's central bank governor, said. "I feel, however, that on balance, the current evidence points to inflation in the euro area being in line with price stability over the medium term," Hurley said at a presentation of the Irish central bank's annual report.|||

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