Gauge of long-term euro zone inflation hits eight-week high ahead of ECB meet

A key market gauge of long-term inflation expectations in the euro zone rose to its highest level in 8 weeks on Thursday, ahead of a European Central Bank meeting.

The five-year, five-year, breakeven forward rate  a measure closely tracked by the ECB  rose to 1.718 percent , after having hit a low of 1.67 earlier this month. It remains below the ECB’s near 2 percent inflation target.

On Thursday,  Rising oil and commodity prices have lifted market inflation expectations in recent weeks, with the latest move higher in the five-year, five-year forward coming as the ECB meets  to discuss monetary policy./

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