ECB moving closer to policy action in the face of deflation threat: "Various ECB Governing Council Members have spoken over the past few weeks, acknowledging the risk of deflation in the Eurozone and signaling that they were ready to take action against the trend. Most recently, Slovakia's central bank Governor Josef Makuch said that "nonstandard measures to prevent slipping into a deflationary environment" were discussed, although he didn't want to give any further details. "
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