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Weak inflation data in Europe (as expected)

November 28, 2014

ECB President Mario Draghi said yesterday at the University of Helsinki that the European Central Bank is open to buy a wide variety of assets to provide further stimulus to the economy. Mr. Draghi let open what kind of assets this might could be but pointed to the fact that the discussion is open and the this could mean “all range of assets”. The Governing Council enters now a week-long quiet period.

The statement was made on the backdrop of inflation data which came in yesterday from Spain and Germany. Prices in Spain dropped 0.5% this month (YoY). In Germany price appreciation came in as expected at rate of 0.5% marking the slowest pace since February 2010 while the unemployment rate in the biggest economy of the monetary union printed a record low at 6.6%. Japan rallies this morning on a weaker Yen.

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