The ECB decided Thursday keep its monetary policy unchanged and said that it would keep rates at current levels until "well past" the end of net asset purchases.
Analysts expected the institution to reconfirm its main messages from its previous meeting in October. In that meeting, the ECB said it would cut the level of bond purchases each month, but extend the length of time that its quantitative easing (QE) program runs.
On Thursday, the bank revised upwards its inflation forecast for next year to 1.4 percent.
In terms of growth, the ECB estimated in September a GDP (gross domestic product) rate of 2.2 percent for this year and 1.8 percent in 2018. This has now been revised upwards to 2.4 percent in 2017 and 2.3 percent in 2018.