November 3, 2011 / 1:41 PM / 6 years ago

ECB's Draghi expects lower growth in 2012, inflation below 2%

FRANKFURT, Nov 3 (Reuters) - Inflation in the euro zone is likely to fall below two percent next year and the economy is likely to grow less robustly than thought, European Central Bank President Mario Draghi said on Thursday.

Euro zone inflation remained at 3.0 percent last month, well above the ECB’s target of just below 2 percent.

“Inflation rates are expected to decline further in the course of 2012 to below 2 percent,” Draghi told a news conference marking his debut as ECB president after the bank cut interest rates by a quarter-point to 1.25 percent .

He said euro zone GDP growth forecasts were “very likely” to be downgraded when the ECB releases new staff forecasts next month.

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