On Thursday 8 June, the European Central Bank (ECB) kept its main lending rates unchanged, but added that they would not go any lower. It has revised its growth forecasts upwards, but its inflation forecasts downwards.
“We expect (these rates) to remain at their present levels for an extended period of time, and well past the horizon of our net asset purchases”, said ECB President, Mario Draghi. He justified the change in language used by the disappearance of a deflation risk in the...