The ECB's staff forecast raised growth forecasts "substantially" and made minor adjustments to its inflation projections. Turning to growth first, the staff raised this year's GDP forecast to 2.4% from 2.2%, and next year's growth was raised to 2.3% from 1.8%. The GDP forecast for 2019 was raised to 1.9% from 1.7%, and for the first time, introduced a 2020 GDP forecast of 1.7%. The forecast suggests growth momentum is peaking or will peak shortly. The minor adjustments mean that this year's inflation forecast was unchanged at 1.5%, while raising next year's projection to 1.4% from 1.2%. The 2019 forecast was left unchanged at 1.5% and the 2020 forecast, introduced for the first time at 1.7%.