In the United States, it remains to be seen how the Federal Reserve System
("FED") will respond to the current challenges and how sustainable the
economy’s current favorable growth momentum will be. Based on the current
information available, the Issuer anticipates no further increase in interest rates
through September of 2015, but this forecast is fraught with great uncertainty in
as much as a prolonged strain on the US economy could postpone the interest rate
rise.
In the Eurozone, a slight 1.1% increase in the growth rate is expected in 2015.
The recovery of economic output can be attributed above all to the weak euro.
Nevertheless, given the muted global expansion, global trade growth will
probably be rather modest.
Another major challenge will be the drop in oil prices. The impact on the Issuer’s
clients as a result of this development must be monitored and analyzed on a caseby-case basis. Although the ECB emphasized the long-term favorable effects of a
price drop, the Issuer sees big problems, above all in the impact this will have on
inflation. In view of the current decline in inflation and in economic growth, ECB
could be expected to respond by launching a quantitative easing program. Should
the ECB not respond quickly, then there is a greater likelihood that the ECB will
not achieve its goal of price stability and that its related credibility will suffer.

### Language ###
English

### Assessment ###
The text contains a specific economic growth forecast for the Eurozone in 2015, which could be the subject of a straightforward information request.

### Query ###
Tell me the projected growth rate for the Eurozone economy in 2015
Tell me the projected growth rate for the Eurozone economy in 2015