ECB cuts forecasts amid doubts

The European Central Bank cut its inflation and growth forecasts for the eurozone yesterday as its president said things could get worse.

The euro fell 1% on the moves and comments, hitting a two-week low.

ECB president Mario Draghi pledged to beef up or prolong the bank’s bond-buying programme if the picture darkened further, although he said no one on the bank’s Governing Council had argued for it now.