The European Central Bank (ECB) will announce its March interest rate decision on Thursday afternoon and is expected to keep interest rates at a 22-year high of 4.5% for the fourth time in a row. However, upcoming forecasts by the bank’s economic staff are likely to show decreased economic growth and falling inflation for the coming year. This could potentially put more pressure on Lagarde to cut interest rates in the near future. David Powell, senior euro-area economist for Bloomberg Economics, as reported by Bloomberg said: ‘We expect Lagarde to use downward revisions to the forecasts of the…