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Draghi: ECB expects 'gradual' recovery in 2013
FRANKFURT (MarketWatch) -- European Central Bank President Mario Draghi on Thursday said weakness in the euro-zone economy will extend into 2013, with a "gradual recovery" taking hold later in the year. Draghi said risks to the economic outlook remain weighted to the downside and are related to slow implementation of economic reforms by euro-zone governments. Draghi said that while inflation remains above the ECB's target rate, annual inflation should fall below 2% later in 2013 and that the central bank sees inflationary pressures as contained. Earlier, the ECB left its key lending rate unchanged at 0.75%, as expected.
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