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ECB Watchers: Pressure On May/June HICP To See If ECB Will Act
Observers of the European Central Bank may be divided on whether or not the ECB is done with monetary easing, but there is little doubt that Eurozone inflation data from May and June will be critical in deciding what happens next at the Eurotower. Despite the ECB leaving interest rates unchanged Thursday, analysts generally agree that ECB President Mario Draghi's press conference marked another dovish turn after his March performance. He acknowledged the Council was divided over whether the surprise March HICP print of 0.5% y/y marked a divergence from the ECB's medium-term inflation outlook and said more information ... (full story)