This diminishes that probability of a large move from the ECB. The euro is rallying on this, it's bullish. •Changes to forecasts are 'marginal' according to BBG sources •ECB will revise down 2016 inflation forecasts to 1.6% from 1.7% •"The confirmation for the existing outlook would undermine the case for more stimulus instead they'll need to focus on as-yet-unrealized risks to explain any shift in policy" (full story)