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European Central Bank increases forecast for economic growth

The European Central Bank (ECB) has increased its forecasts for economic growth in the eurozone but kept interest rates on hold.
    
The ECB president also hinted that there was no need to cut rates further.
    
The ECB now expects growth across the eurozone to be 1.9 per cent in 2017 compared with its March forecast of 1.8 per cent.
    
It also increased its growth projection for 2018 to 1.8 per cent from 1.7 per cent, and for 2019 to 1.7 per cent from 1.6 per cent.



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