ECB to publish its economic forecasts

The European Central Bank has decided to publish its internal economic forecasts for the euro-zone to improve the markets's understanding of its monetary policy and dispel criticism of excessive secrecy. The ECB's policymaking governing council took the decision at a meeting at which the council's 17 members also kept the bank's main interest rate unchanged at 4.75 per cent.

The ECB's forecasts, which are produced twice a year by the bank's specialist staff rather than by the council itself,