ECB cuts forecasts and says risks remain on the downside:

  • 2015 seen at 1.4% vs 1.5% exp
  • 2016 seen at 1.7% vs 1.9% exp
  • 2017 seen at 1.8% vs 2.0% exp

Says inflation will remain 'very low' in the near term but will rise towards the end of the year.

Inflation forecasts:

  • 0.1% in 2015 vs 0.3% prior
  • 1.1% in 2016 vs 1.5% prior
  • 1.7% in 2017 vs 1.8% prior

Sees downside risks to staff inflation forecasts and governing council will monitor risks closely.

Update: here are the full projections.