ECB keeps interest rates in Europe unchanged despite economic growth forecast

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. 


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