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ECB set to raise growth forecasts, flesh out bond buying plan
Keen to keep a low profile over the Greek crisis, the European Central Bank will focus on improved growth prospects when it meets on Thursday and unveil some but not all the details of its 1 trillion euros-plus bond buying plan. Meeting in Cyprus, the ECB will keep rates on hold, likely lift growth forecasts to reflect a string of positive data surprises but cut inflation projections as it incorporates the full effect of a dramatic oil price fall, backing its case to buy 60 billion euros worth of bonds a month from March to spur inflation. The bank has a long way to go to convince markets. Only half of the economists ... (full story)