Euro Area's Inflation Surge Won't Help Draghi Hold the ECB Line
- Core inflation accelerated to the most in 4 years in April
- Draghi emphasized weakness of price pressures on Thursday
Draghi’s Degrees of Dovishness and Nod to the Downside
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Mario Draghi’s job of maintaining a sense of economic caution is already getting a little trickier.
Only a day after the European Central Bank president expressed concern that price pressures in the euro area are still too weak to rein in stimulus, a measure of underlying inflation beat forecasts to reach the strongest pace in almost four years. Another report showed money supply expanding at the fastest rate since the depths of the global financial crisis.