The European Central Bank on Thursday held interest rates at 0.5% despite tentative signs that the eurozone is recovering.
It now expects the eurozone to shrink 0.4% compared to its previous forecast in June of a 0.6% contraction.
The BBC reports the bloc emerged from recession in the second quarter of this year, with growth of 0.3% recorded between April - June. Eighteen countries use the euro.
In July, ECB president Mario Draghi said interest rates are likely to remain low for an extended period.
The ECB expects the recovery to be gradual over the rest of the year, and strengthen in 2014.