The European Central Bank lifted Thursday its 2017 forecasts, with president Mario Draghi saying the bank expected growth of 1.7 percent and inflation of 1.3 percent by then.

In September, the bank had pencilled in 1.6 percent growth and inflation of 1.2 percent for next year. For 2018 the bank sees 1.6 percent growth and 1.5 inflation.

Draghi also unveiled the bank's first projections for 2019, forecasting growth of 1.6 percent and inflation of 1.7 percent -- closing in on the ECB's target of just under two percent.