LONDON: Mario Draghi's dramatic Tuesday hints of further monetary easing by the European Central Bank has stabilized collapsing euro zone inflation expectations, but the departing ECB chief will struggle to calm market fears of Japan-style economic stagnation.
Strategists reckon the behavior of this key gauge shows both that Draghi was correct to be more aggressive about promising"whatever it takes" to avoid falling prices and that the ECB has much more work to do. In Japan, struggling with deflation for much of the last quarter-century, the central bank has pushed back its forecast for hitting its own inflation target numerous times over the years, and inflation expectations remain low.
Euro zone wages rose in the first quarter of the year at the highest pace recorded since the data was first collected.
Source: Financial Digest (financialdigest.net)
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