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ECB said to lower its inflation forecasts according to Bloomberg, EUR/USD falls

The European Central Bank is set to cut its inflation forecasts in new projections that it will publish alongside the rate decision later today. Bloomberg reports. 

EUR/USD is trading at slightly lower ground, falling to a low of 1.1367 after reaching a daily high of 1.1393 earlier in the day.

The ECB announces its rate decision at 12:45 GMT. President Mario Draghi begins the press conference at 13:30 GMT and will include the new inflation and growth forecasts in his prepared remarks at the beginning of the event.

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