ECB keeps interest rates in Europe unchanged despite economic growth forecast

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The European Central Bank has reportedly improved its economic outlook predictions for general growth throughout the Eurozone, however has kept interest rates at a steady frequency. Mr Mario Draghi, President of the ECB also implied that there may be no further need to make additional cuts. During a press conference he implicitly stated: ‘we are now confident that inflation will unite with our objectives.’ The ECB now expects European economic growth to be 1.9% in 2017 compared with its estimate of 1.8% in March.