The European Central Bank (ECB) has lifted its economic growth forecasts as growth across the eurozone picks up.
It now expects the eurozone’s economy to grow 2.4% this year, ahead of its previous guidance of 2.2%.
The bank also kept its main interest rate at zero and confirmed its asset purchase programme would drop from €60bn to €30bn a month in January.
ECB president Mario Draghi said: “We are certainly more confident today than we were two months ago.”
Pressure on the ECB to tighten policy has been growing as the eurozone economy has gathered strength.
The bank also raised its GDP growth forecast for next year to 2.3% from 1.8%, and for 2019 to 1.9% from 1.7%.
The ECB slightly lifted its inflation expectation for next year but its guidance remains below its target of close to, but below, 2%.
Mr Draghi said: “Domestic price pressures remain muted overall and have yet to show convincing signs of a sustained upward trend.”
This post first appeared on MarketPulse - MarketPulse - MarketPulse Is The Mar, please read the originial post: here