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VIEW: ASB Looking For Higher Peak In OCR

ASIA

Coming up in the Asia-Pac session on Thursday:

USDCAD TECHS

Retains Bear Cycle

US TSYS

Carry-Over Weakness for Bonds

AUDUSD TECHS

Bullish Price Sequence

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France, Germany, and Italy need significantly positive, albeit very different, target rates of inflation to minimise the economic welfare costs of distorted relative prices and increases in average mark-ups, a working paper published Tuesday by the European Central Bank concludes.

A range of 1.1%- 2.1% in France, 1.2%-2.0% in Germany, 0.8%-1.0% in Italy bests aligns prices with their efficient values, Klaus Adam, Erwan Gautier, Sergio Santoro and Henning Weber argue, in the study that appears shortly after the ECB formally adopted a symmetric 2% inflation target.