ECB council member Guy Quaden says he expects the European Central Bank to reduce its forecasts for economic growth and inflation “substantially” next month, paving the way for lower rates. Speaking to Bloomberg News in Sao Paulo the official said “It’s more than probable” that the ECB “will have to modify substantially its projections in December for growth and inflation” adding “It’s surely not excluded that the revision of the projections will have consequences on the field of our monetary policy.”