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Key market inflation gauge falls to new low under 1.60%
[LONDON] One of the European Central Bank's favoured measures of market's longer-term inflation expectations fell below 1.60 per cent for the first time on Wednesday.
The euro five-year five-year breakeven forward - which shows where five-year inflation will be in five years time - hit 1.5977 per cent, well below the ECB's target inflation rate of just below 2 per cent.