LONDON (Reuters) - A key gauge of long-term euro zone inflation expectations slid below 1% for the first time ever on Monday, as the coronavirus outbreak alongside an oil price plunge made it unlikely the ECB would reach its inflation target anytime soon.
The five-year, five-year breakeven inflation forward, an inflation gauge tracked by the European Central bank, slid to 0.9737% EUIL5YF5Y=R. The ECB targets inflation at close to 2%.
The dive in inflation expectations to new record lows also came as oil prices tanked 25%LCOc1 CLc1.
Reporting by Dhara Ranasinghe; editing by Sujata Rao