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ECB's Draghi: Eurozone growth momentum to weaken in Q3

FXStreet (Łódź) - ECB head moves on to the forecasts saying that the outlook for inflation remains subdued.

• He suggests the new measures will help push CPI closer to the 2% target level.

• Inflation should pick up gradually in 2015 and 2016.

• Growth momentum expected to weaken further in Q3.

• GDP forecasts reduced to 0.9% this year and to 1.6% the next.

• 2016 GDP forecast raised to 1.9%, from 1.8%.

ECB's Draghi: Governing Council decided to buy simple ABS

The ECB Governing Council unexpectedly decided to cut rates to new record lows at the September meeting, and during the subsequent press conference Mario Draghi announces also the start of ABS purchases.
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EUR/GBP homing in on 0.7900

Following the ECB decision to cut rates to 0.05% from 0.15%, while the BoE held firm at 0.5%, EUR/GBP has declined sharply today, with 0.7900 in focus.
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