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在线翻译:
szdaily -> World Economy
Inflation slows in eurozone
    2018-January-8  08:53    Shenzhen Daily

INFLATION in the eurozone slowed as expected in December, vindicating the European Central Bank’s (ECB) decision to keep its policy easy despite growing pressure from Germany and other richer eurozone countries.

The ECB has said it would continue buying bonds at least until September and keep rates low well after to raise inflation to its 2-percent target. But policymakers from the Netherlands, Germany and other northern countries have voiced their worries about an overly easy policy while economic growth is strong.

Prices in the eurozone grew by just 1.4 percent year on year last month, or 10 basis points slower than in the previous month due to smaller increases in food and energy prices. Once those components are stripped out, so called “core” inflation was stable at 1.1 percent.

“There is no great pressure on the ECB to unwind quantitative easing,” said Kenneth Broux, a market strategist at Societe Generale.

The slight deceleration in headline inflation had been expected by the ECB and by market economists polled recently.

But a stronger-than-expected German inflation reading of 1.6 percent last week raised market speculation about an upside surprise in eurozone price growth Friday.

After the data, the euro traded just below a four-month high of US$1.21 hit a day earlier, consolidating a rally that may prove a headache to the ECB by making eurozone imports cheaper and exports dearer.

“The euro is not helping above US$1.20 because it should delay inflation returning to target,” Societe Generale’s Broux said.

The ECB is due to hold its next policy meeting Jan. 25 and investors will look for any sign of discomfort with the euro’s strength in Mario Draghi’s press conference.(SD-Agencies)

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