``The ECB's latest forecasts paint a picture of economic stagnation and inflation falling well below its 2 percent limit. The euro dropped almost a cent to $1.2977 at 4:15 p.m. in Frankfurt. The new projections "firmly support the case for lower interest rates," said Howard Archer, chief European economist at IHS Global Insight in London. "The ECB appears to have the door open for an interest-rate cut, and we expect it to step through early in 2013."''

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