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ECB's Draghi Sees Vigorous Pickup in Core Inflation; Euro Jumps

  • Comments suggest ECB is on track to hike rates late next year
  • President addresses lawmakers in the European Parliament
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European Central Bank President Mario Draghi Source: Bloomberg
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Mario Draghi said he sees a “relatively vigorous” pickup in underlying euro-area inflation, signaling that the European Central Bank is well on track to raise interest rates late next year.

The ECB president told the European Parliament in Brussels that his institution’s economic projections -- which show headline inflation averaging just 1.7 percent through to 2020, below the goal of just under 2 percent -- conceal an improvement in fundamental price pressures.