March 9, 2020 / 8:26 AM / 19 days ago

Euro zone inflation expectations gauge below 1% for first time ever

LONDON, March 9 (Reuters) - A key gauge of long-term euro zone inflation expectations slid below 1% for the first time ever on Monday, as the coronavirus outbreak alongside an oil price plunge made it unlikely the ECB would reach its inflation target anytime soon.

The five-year, five-year breakeven inflation forward, an inflation gauge tracked by the European Central bank, slid to 0.9737%. The ECB targets inflation at close to 2%.

The dive in inflation expectations to new record lows also came as oil prices tanked 25% . (Reporting by Dhara Ranasinghe; editing by Sujata Rao)

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