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Euro: Italian Inflation Plunge Sends An Important Signal
The European Central Bank (ECB) will be hoping Italy's inflation undershoot in June is a sign of things to come and that the likes of Germany and France will follow suit on Thursday and Friday. Italian inflation fell sharply in June with a 0% month-on-month reading, down from 0.3% in May said Istat, taking the year-on-year figure to 6.4%, which was far below the 6.8% expected by consensus and May's 7.6%. The Euro was relatively unmoved, but inflation numbers out Thursday will be a key driver as they should send an updated signal to the ECB as to whether its 'hawkish' stance on interest rates is warranted at this late ... (full story)