ECB lifts recovery outlook but keeps “steady hand” on stimulus By Reuters

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By Balazs Koranyi and Francesco Canepa

FRANKFURT (Reuters) -The European Central Bank raised its growth and inflation outlooks on Thursday but promised to keep ample stimulus flowing, fearing that a retreat now would accelerate a worrisome rise in borrowing costs and choke off recovery.

ECB President Christine Lagarde said policymakers agreed to make further emergency purchases over the next quarter “at a significantly higher pace” than during the first months of the year” but gave no further detail about the expected levels.

“We are going to do that in next three months according to market conditions, which clearly include seasonality,” she told a news conference, referring to the typically lower levels of liquidity in Europe’s summer months.

“The…

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