Bonds Show Draghi's Inflation Dilemma a Year After Jackson Hole
- ECB Vice President Constancio attending this year's gathering
- Goldman: ECB could extend QE if inflation remains depressed
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Mario Draghi’s speech at Jackson Hole last year was meant to be a turning point in the European Central Bank’s battle to boost inflation.
What the central bank chief didn’t count on was a collapse in commodity prices that has since pushed bond investors’ longer-term inflation expectations even lower than when he signaled a move toward quantitative easing.