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Eurozone raises growth outlook for 2015 to 1.5 percent

The ECB's governing council voted to hold the benchmark "refi" refinancing rate steady at its current all-time low of 0.05 percent

The EU raised its growth outlook for the eurozone in 2015 to 1.5 percent 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 percent in 2015, the EU's spring forecast predicted, avoiding deflation and confirming that unprecedented stimulus by the European Central Bank was having an effect.