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Eurozone raises growth outlook for 2015 to 1.5 per cent

[BRUSSELS] The EU raised its growth outlook for the eurozone in 2015 to 1.5 per cent on Tuesday, as Europe took advantage of cheap oil and a weak euro to boost hopes of a much-needed recovery.

Consumer prices across the 19-nation eurozone would rise by 0.1 per cent in 2015, the EU's spring forecast predicted, avoiding deflation and confirming that unprecedented stimulus by the European Central Bank was having an effect.