Oil price slump hurting ECB's stable price plan
Central bank faces looming deflation in eurozone
Frankfurt
THE plunge in oil prices is making it tougher than ever for the European Central Bank (ECB) to achieve its core mission of keeping prices stable at a time it faces looming deflation, analysts say.
In the short term, the collapse of crude prices to five-year lows will curb inflation. But in the longer term, the slump could boost growth, which in turn would reverse the stubbornly low inflation worrying the eurozone, economists say.
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Central banks will probably only cut half as much as they hiked