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The ECB lowered its growth and inflation projections for next year, forecasting a steady slowdown in the coming years as the effect of stimulus wanes and growth returns to the currency bloc's natural potential at about 1.5 percent.Draghi stuck close to the bank's argument that the drivers of growth remain in place and the slowdown is merely a return to normal after an exceptional run. He also argued that for much of the last four years, the ECB's asset purchases had been the only driver of the recovery, suggesting a slowdown is a natural consequence of the ECB's retreat.Previous long-term loans expire only in mid-2020 and the ECB is expected to decide early next year whether to roll them over.
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