Draghi Faces Communication Hurdle as Inflation Picks Up: Chart

Mario Draghi might find himself facing questions this year over his assessment of the balance of inflation risks -- particularly after the headline rate nearly doubled to 1.1 percent in December. For more than two years, the European Central Bank chief has been warning against the threat of too-weak price pressures -- or worse, a spiral of decreasing costs and wages. While that threat has now disappeared, Draghi is likely to defend continued stimulus on Thursday by pointing to the unusual degree of uncertainty in 2017, and the surge in oil that was largely responsible for the improvement.

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