Gauge of long-term eurozone inflation falls to lowest in over 3 months
A key market gauge of long-term inflation expectations in the eurozone area fell to its lowest level since November on Friday, extending recent falls on the European Central Bank's dovish message on the inflation outlook.
The eurozone may have more unexploited capacity, particularly in the labour market, which could mean that inflation might take longer to rise back to its near 2 per cent target, the bank's chief economist Peter Praet said on Friday.
The five-year, five-year breakeven inflation forward, tracked by the ECB, fell to 1.6840 per cent, its lowest level since November and well below a peak around 1.8 per cent seen in January.
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