ECB Lifts Inflation Forecast For 2015 To 0.3%

The European Central Bank on Wednesday said it's become more upbeat in its inflation outlook for 2015, with quarterly staff projections rising to 0.3% in 2015, up from the March forecast for a flat reading. The 2016 inflation projection is unchanged at 1.5%, while 2017 is seen at 1.8%, in line with the previous forecast. "Our monetary policy measures have contributed to a broad-based easing in financial conditions, a recovery in inflation expectations and more favorable borrowing conditions for firms and households," ECB President Mario Draghi said at the news conference following the bank's rate decision.