Euro jumps after ECB revises growth forecasts higher

The euro immediately rose 30 pips on a better GDP forecast

• ECB sees 2015 GDP growth of 1.5% vs 1.0% prior
• ECB sees 2016 GDP growth of 1.9% vs 1.5% prior
• ECB sees 2017 GDP growth of 2.1%

Update: Now the inflation forecasts

• ECB sees 0% inflation in 2015 due to oil vs 0.7% prior
• Sees 2016 inflation at 1.5% vs 1.3% prior
• Says inflation will average 1.8% in 2017

The 2017 forecast implies that the ECB won't need to do any additional QE beyond the 60B/month promised today.