The European Central Bank announced its first steps to unwind some of the extraordinary measures it took to prop up the euro zone economy during the global crisis. ECB kept rates at a record low of 1 percent as expected, ECB President Jean-Claude laid out a number of decisions on ending and tightening up the measures it has taken to support liquidity in the banking sector. With markets still some way from normality, all 80 economists in the latest Reuters poll had predicted the bank would stay on hold. But the bank's moves on the liquidity steps sent the euro and euro zone bonds lower. Stocks were little moved. Trichet said the ECB had decided to hold its last six months refinancing operation on March 31 and confirmed it would make this month's 12-month tender its last. This time the interest rate on the one-year loans, which have up to now been offered at just 1 percent, would be linked to any changes in shorter-term rates. He also announced new forecasts by European Central Bank staff which upped their expectations for euro zone growth next year after the euro zone emerged from recession in the third quarter. However, the mid-point of their forecast range for 2011 inflation was still well below the bank's 2 percent ceiling.