FRANKFURT (AFX) - The European Central Bank believes that the euro zone can withstand a U.S. economic slowdown, the Wall Street Journal Europe reported, citing people familiar with the ECB's thinking. The ECB sees the recent decline in oil prices and the strengthening of the euro as much more important for European inflation than the U.S. slowdown, the newspaper said. ECB officials see the U.S. slowdown and last week's U.S. rate cut as having only a minimal impact on Europe, it said. They also continue to regard the outlook for European growth as reasonably positive, with upward pressures on inflation remaining, the newspaper said.