Euro and oil pose risk to outlook says Hurley

"The balance of risks to growth are now clearly to the downside," said Hurley, 59, in an interview in Dublin. "We're disappointed that growth, particularly in the euro area, is not as strong as we would have wished. "Sudden movements" in exchange rates "are damaging to economic growth".

"I would expect the recovery to continue with less momentum than we saw in the first half of the year," said Hurley, declining to comment on the new forecasts. ECB President Jean- Claude Trichet said in an inte

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