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Frankfurt — European Central Bank (ECB) president Mario Draghi has disclosed the biggest cut in the ECB’s economic outlook since the advent of its quantitative-easing programme, as policy makers delivered a new round of stimulus to shore up growth. On Thursday, Draghi said the eurozone economy would expand only 1.1% in 2019, a 0.6 percentage point drop from the forecast provided just three months ago. A package of assistance from new loans for banks to a longer pledge on record-low rates is intended to expand the institution’s existing stimulus, he said. “The persistence of uncertainties related to geopolitical factors, the threat of protectionism and vulnerabilities in emerging markets appears to be leaving marks on economic sentiment,” Draghi told journalists in Frankfurt on Thursday. “The risks surrounding the euro area growth outlook are still tilted to the downside.” The ECB is reverting to stimulus just three months after policy makers decided to end their bond-buying programm...

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