ECB's Cœuré says German lowflation threatens to trigger eurozone ‘race to the bottom'


The measures introduced by the European Central Bank's (ECB) governing council last month were warranted in part because falling German inflation risked triggering a race to the bottom throughout the eurozone, ECB executive board member Benoît Cœuré said yesterday during a speech in Berlin.

"Germany plays a benchmark role for peripheral countries in correcting their imbalances," Cœuré said. "We had to act, otherwise we would not have lived up to our mandate."

He said the ECB's policy

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