By Jonathan Davies

Inflation is the eurozone looks set to be lower than expected in the next two years, according to a survey by the European Central Bank (ECB).

The economists, academics and forecasters surveyed expected inflation of 1% in 2015 and 1.4% in 2016. Initial forecasts had predicted inflation of 1.2% and 1.5% respectively.

The ECB said that falling oil prices and continued political tensions could result in economic growth being 1.2% for the eurozone, against forecasts of 1.5%.

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