June 11, 2018 / 8:29 AM / a year ago

Market gauge of euro zone inflation at 4-month high as ECB meeting looms

European Union flags flutter outside the European Central Bank (ECB) headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach

LONDON (Reuters) - A key market gauge of long-term inflation expectations in the euro zone rose to its highest level in around four months on Monday, ahead of a looming European Central Bank meeting.

The five-year, five-year breakeven forward rate — a measure closely tracked by the ECB — rose to 1.7517 percent EUIL5YF5Y=R.

A rise in inflation expectations follows signs of a pick-up in price pressures across the bloc and amid expectations that this Thursday’s ECB meeting could see some signals on the central bank’s plans to wind down its massive stimulus.

Reporting by Dhara Ranasinghe; editing by Sujata Rao

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