Investing.com – ECB chief Mario Draghi said Thursday the risks to the euro-zone economy are now "broadly balanced."
The ECB said the downside risks to the single currency bloc remain from global factors.
Draghi was speaking at a news conference after the ECB left its monetary policy on hold.
In its statement, the ECB said rates will remain at current levels beyond the horizon of its asset purchase program.
In doing so, it omitted a previous reference to rates being held at current levels "or lower."
The ECB slightly raised its projections for euro-zone growth to 1.9% in 2017, 1.8% in 2018 and 1.7% in 2019.
Over the same horizon, it lowered inflation forecasts to 1.5% this year, 1.3% the next and 1.6% in 2019.
The reason for the lower inflation outlook was attributed to expected lower energy prices.
Draghi said a "very substantial degree of monetary accommodation" still needed to meet the bank's inflation target on a "durable" basis.
He said the ECB is confident the medium target of close to 2% will be met. There was no talk of tapering at the meeting.
The euro was off 0.29% at $1.1223 at 09:30 ET.