European Central Bank predicts lower growth

Mario Draghi, the President of the European Central Bank (ECB,) sees lower growth and lower inflation in the Eurozone  for this year and through to 2017. The ECB has lowered growth expectations for 2016 to 1.5% from 1.7%, stating increased economic risk as recent as mid August and that the economic recovery would still take place but at a somewhat slower level than expected. The Euro weakened against senior global currencies as a result.