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The programme will last till September 2016, Draghi confirmed.The €1.14 trillion package is hoped to avert deflation and save the eurozone from a triple-dip recession.
READ MORE:ECB announces milestone €1.14trn ‘easy money’ program
The European Commission expects eurozone growth to reach 1.5 percent in 2015, exactly what it predicted in November.
Inflation in the eurozone tumbled to negative 0.6 percent in January. In February the index slightly recovered to -0.3 but remained well below the inflation target of 2 percent.
ECB March staff projections: euro area annual real GDP +1.5 pct (+1.0 pct) in 2015, +1.9 pct (+1.5 pct) in 2016, +2.1 pct in 2017
— ECB (@ecb) March 5, 2015
Earlier Draghi has promised to do “whatever it takes” to resume growth in the continent.
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