Eurozone: No major surprise in inflation data – BBH

Analysts at BBH explain that the eurozone reported March CPI rose to 1.4% y/y from a revised 1.1% in February (originally 1.2%) and the core rate was, disappointingly, unchanged at 1.0%.  

Key Quotes

“Many had expected it to tick up to 1.1%, not that that would make a big difference.  Separately, the unemployment rate slipped to 8.5% from 8.6% in January.  Today's reports are close enough to expectations that views on the ECB are unlikely to change.  The euro itself remains confined a trading range since mid-January (narrow $1.22-$1.24, broader $1.2155-$1.2555).”