Trichet: ECB to extend full-allotment liquidity provision through beginning of January, at least

The spigots remain open at the ECB so that EU banks can maintain their funding base.

Watch the press conference here.

ECB staff has revised upwards its GDP forecast to +1.4/1.8% and to 0.5%/2.3% in 2011.

ECB staff forecasts for inflation were revised higher, the 1.5/1.7% for 2010 and 1.2/2.2% in 2011.