European Central Bank holds interest rates, cuts inflation and growth forecasts

European Central Bank policymakers on Thursday lowered their annual inflation and growth forecasts, as they confirmed a widely expected hold of interest rates.

Staff projections now see economic growth of 0.6% in 2024, from a previous forecast of 0.8%.

They presented a more positive picture on inflation, with the forecast for the year brought to an average 2.3% from 2.7%. Looking ahead, staff see inflation hitting the ECB’s 2% target in 2025…