ECB watching oil and euro closely for inflation risks

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Eurozone deflation has become less likely since the beginning of 2015, but falling oil prices could threaten the economic outlook, according to the governing council of the European Central Bank (ECB).

Members of the council agreed the low oil price and euro exchange rate meant there were "downside risks to the September 2015 ECB staff projections for inflation", according to the "account" of its September 2–3 meeting, published today (October 8).

Falling energy prices and other sources of

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