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Reading reinforces expectations for gradual exit from quantitative easing programme

Inflation in the eurozone is cooling. The year-on-year inflation figure for February was revised down from 1.2% to 1.1%; that compares with 1.3% in January and is the lowest level since December 2016.

The latest figure is a long way short of the European Central Bank’s (ECB) target of 2% and suggests any exit from the current quantitative easing (QE) programme is likely to be gradual, as ECB chief Mario Draghi recently implied.

In October 2017 the ECB extended QE from the end of that year through to September 2018.

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