The European Central Bank on Thursday held interest rates steady for the second meeting in a row, as it revised its growth forecasts lower. The bank was widely expected to leave policy unchanged in light of the sharp fall in euro zone inflation, as investors instead chase signals on when the first rate cut may come and assess the ECB’s plans to shrink its balance sheet. “The Governing Council’s future decisions will ensure that its policy rates will be set at sufficiently restrictive levels for as long as necessary,” it said in a statement. The latest staff macroeconomic projections see average real GDP expanding ... (full story)