Irish central bank sees large downside risks for the Eurozone but raises own GDP forecasts

Irish central bank revises economic forecasts

• 2015 GDP revised up to 5.8% vs 4.1% prior
• 2016 GDP 4.7% vs 4.2% prior
• Sees sizeable downside risk to Eurozone from Greek crisis, Chinese economy, normalising mon pol in advanced economies and downside risks to EZ inflaiton
• Says the ECB have clarified that they will loosen mon pol further

They also raised their consumer spending estimate to 3.0% vs 2.3% prior