ECB ups growth forecasts but keeps easy money pledge

Frankfurt

THE European Central Bank raised growth and inflation forecasts for the euro area on Thursday but stuck to its pledge to provide stimulus for as long as needed, predicting inflation would remain below target into 2020.

The ECB kept its key rates on hold and also held rigidly to its script on its intentions for next year - despite pressure from some policymakers to acknowledge explicitly the strength of the eurozone recovery and more closely follow the US Federal Reserve's tightening trend.