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Eurozone core inflation revised higher, headline figure confirmed at 1.5 pct

European Union's statistics office on Wednesday published Eurozone final inflation data which showed eurozone’s brief flirtation with 2 percent inflation was over. Eurostat confirmed the March's preliminary inflation reading of 1.5 percent, which was the biggest monthly price drop in over a year.

Eurozone core inflation was revised higher than initially forecast. Core inflation, which excludes volatile prices of energy and unprocessed food and which the European Central Bank (ECB) monitors closely, was revised up to 0.8 percent year-on-year in March from an earlier estimate of 0.7 percent.

The revised core inflation data may slightly strengthen hawks on ECB board for winding down monetary stimulus. That said, inflation remains below the central bank's target of inflation close but below 2 percent over the medium term. And the ECB policymakers think the current climb in inflation is not sustainable as it is underpinned by volatile factors.

With growth remaining modest and unemployment falling slowly from very high rates, ECB is likely to remain reluctant to quickly remove the stimulus they have been providing since mid-2014.

In fresh forecasts for the global economy released Tuesday, the International Monetary Fund said it expects the eurozone economy to expand at the same 1.7 percent rate this year as it did last. In 2018, it expects growth to ease to 1.6 percent.

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2017-09-22 21:05:48
0m

September 22 14:30 UTC Released

USECRI Weekly Annualized*

Actual

0.0 %

Forecast

Previous

0.3 %

September 22 14:30 UTC Released

USECRI Weekly Index*

Actual

143.4 %

Forecast

Previous

143.3 %

September 25 00:30 UTC 25622562m

JPNikkei Mfg PMI

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Forecast

Previous

52.2 bln $

September 25 08:00 UTC 30123012m

DEIfo Business Climate*

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Forecast

116.0 %

Previous

115.9 %

September 25 08:00 UTC 30123012m

DEIfo Current Conditions*

Actual

Forecast

124.8 %

Previous

124.6 %

September 25 08:00 UTC 30123012m

DEIfo Expectations*

Actual

Forecast

107.9 %

Previous

107.9 %

September 25 11:30 UTC 32223222m

TRCapacity Utilisation*

Actual

Forecast

Previous

78.8 %

September 25 11:30 UTC 32223222m

TRManufacturing Confidence*

Actual

Forecast

Previous

110.7 %

September 25 12:30 UTC 32823282m

USNational Activity Index*

Actual

Forecast

Previous

-0.01 %

September 25 13:00 UTC 33123312m

MXIGAE Econ Activity YY

Actual

Forecast

Previous

2.4 %

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