June 26, 2017 / 12:16 PM / 2 months ago

Gauge of long-term euro zone inflation expectations highest in almost 2 weeks

LONDON, June 26 (Reuters) - A closely-tracked gauge of the market's long-term inflation expectations in the euro zone rose to its highest level in almost two weeks on Monday, reflecting a recovery in battered oil prices.

The five-year, five-year breakeven inflation forward, which is followed by the European Central Bank, rose to as high as 1.5497 percent.

Inflation expectations in the single currency bloc tend to move closely with oil prices and the breakeven forward is up roughly 5 basis points from 2017 lows hit last week as crude tumbled to multi-month lows.

Reporting by Dhara Ranasinghe, editing by Nigel Stephenson

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