Euro Inflation Investors Wary of Return to ECB's Target: Chart

Euro inflation forward swaps, a gauge of price expectations, show investors aren’t convinced the European Central Bank will be able to bring inflation close to 2 percent even in 20 years from now. The forward curve for one-year tenor HICPxT inflation swap rates flattens from 10 years at approximately 1.7 percent. Forwards are weighed down by the euro’s recent gains even as ECB President Mario Draghi last month unveiled measures from rate cuts to expanded asset purchases.

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