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ECB's Nowotny sees positive double whammy from euro

WASHINGTON, Oct 10 (Reuters) - The weaker euro is the main reason for optimism about euro zone growth in 2015 and will also help battle current too-low inflation, European Central Bank Governing Council member Ewald Nowotny said on Friday.

Nowotny said the weaker currency would be positive for inflation, which remains well below the ECB's 2 percent ceiling at an estimated 0.3 percent in September, fanning fears of a damaging deflation cycle.

"The reason we see an improvement in 2015 is above all due to a marked pick-up in export performance; we are seeing a weakening in the euro against the dollar," Nowotny told reporters on the sidelines of World Bank and International Monetary Fund meetings.

"That weakening works with a lag and therefore we see a certain relief for exports."

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Nowotny said there was currently no discussion about the European Central Bank stepping up stimulus further by buying sovereign debt, in addition to planned purchases of covered bonds and asset-backed securities.

"It's sensible to just first see how these measures work before one starts having further discussions," he said.

(Reporting by Krista Hughes; Editing by Andrea Ricci)