FRANKFURT, Sept 12 (Reuters) - The European Central Bank cut inflation forecasts for the next three years and its growth projections for 2019 and 2020 on Thursday, providing a key justification for a fresh stimulus package announced earlier in the day. ECB President Mario Draghi told a news conference that risks to the euro area economy remain tilted to the downside, due to geopolitical uncertainty, the rising threat of protectionism and vulnerabilities in emerging markets. With a global trade war weighing on confidence, industrial production and exports have already taken a dip, exacerbated by a string of domestic difficulties, from German industry's struggles to a slowdown in employment growth and waning confidence. The following are the ECB staff's new projections for inflation and GDP growth, with June forecasts in brackets. The ECB updates projections once a quarter. 2019 2020 2021 GDP growth 1.1 (1.2) 1.2 (1.4) 1.4 (1.4) Inflation 1.2 (1.3) 1.0 (1.4) 1.5 (1.6) (Reporting by Balazs Koranyi; Editing by Catherine Evans)
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