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ECB should take market's pessimism with pinch of salt - Coeure

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ECB should take market's pessimism with pinch of salt - Coeure
FILE PHOTO: Benoit Coeure, board member of the European Central Bank (ECB), is photographed during an interview with Reuters at ECB headquarters in Frankfurt, Germany, May 17, 2017. REUTERS/Kai Pfaffenbach/File Photo   -   Copyright  Kai Pfaffenbach(Reuters)
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FRANKFURT (Reuters) – The European Central Bank’s should take the low inflation expectations implied by euro zone bond prices with a pinch of salt as other gauges show greater confidence in the outlook, ECB board member Benoit Coeure said.

“While policymakers should never ignore signals coming from financial markets, they should not focus on them too narrowly either,” Coeure said in a lecture.

“The pessimism priced into bond markets today may not necessarily presage downward pressure on inflation tomorrow – at least not to the same extent.”

(Reporting by Francesco Canepa; Editing by Alison Williams)

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