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ECB Inflation Diverging from Target; UK House Prices Rise

ECB Inflation Diverging from Target; UK House Prices Rise

European Central Bank President Mario Draghi said yesterday the bank stood ready to act if growth continues to suffer. He declared his commitment to keeping the euro zone intact and stated that the Cyprus bailout was not a “template” for future bailouts in the Euro zone. Inflation fell for the third consecutive month in March to an annual rate of 1.7 per cent, compared to the ECB target of near to two percent. ECB Executive Board member, Benoit Coeure told reporters that monetary policy alone could not resolve problems with credit flows in the region. Also that he saw inflation in the euro zone moving away from the bank’s 2 percent target over the next 18 months and that this needed to be monitored carefully.

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