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Gauge of long-term euro zone inflation highest since March
October 24, 2017 / 10:09 AM / a month ago

Gauge of long-term euro zone inflation highest since March

LONDON, Oct 24 (Reuters) - The main market gauge of long-term inflation expectations in the euro zone rose to its highest level in seven months on Tuesday as strong economic data firmed bets on price pressures in the single currency area picking up.

The five-year, five-year, breakeven forward rate -- a measure closely tracked by the European Central Bank which meets for a crucial meeting on Thursday -- rose as high as 1.6571 percent to a level not seen since March.

It has been creeping back towards the ECB’s near 2 percent target in recent weeks as the euro pulls back from recent 2-1/2 year highs versus the dollar and data points to strength in both the U.S. and euro zone economies.

Reporting by Dhara Ranasinghe; Editing by John Geddie

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