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Euro zone inflation expectations tumble to record low

Reuters
·1-min read

LONDON (Reuters) - A key market gauge of long-term euro zone inflation expectations fell to a record low on Friday as concerns about the spread of coronavirus intensified.

The five-year, five-year forward fell to 1.1182%, its lowest level ever. <EUIL5YF5Y=R> It measures expected euro zone inflation over a five-year period.

Countries on three continents reported their first cases of the coronavirus on Friday and the world prepared for a pandemic, triggering worries around an already weak global growth outlook.

Inflation expectations have breached a previous record low in October at around 1.12%, according to Refinitiv data.

(Reporting by Yoruk Bahceli; Editing by Tommy Reggiori Wilkes)