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ECB’s Coeure on the wires…

  • Core inflation more benign than headline figure.
  • Good reason to think 2nd round oil effects will be limited.
  • Inflation forecast duet o commodities, indirect taxes.
  • The need for bond purchases has decreased.
  • Bond program to remain in place for ‘some time”.
  • doesn’t want LRTO to lead to fragmentation of the bond market.
  • Too soon to talk about an exit from emergency ops.