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Opening statement continues: - Mildly...........>

ECB
ECB: Opening statement continues:
- Mildly expansionary fiscal, global growth, favourable funding conditions and
labour market will support growth. Risks tilted to downside, but somewhat less
pronounced.
- Labour cost pressures have strengthened, but weaker growth momentum is
delaying pass through to inflation. Monetary analysis suggests ample stimulus
still needed to meet inflation target.
- Once again talking up need for structural reforms to boost productivity
growth.

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