Is Draghi's Inflation Measure Obscured by Oil?

The video discusses Mario Draghi's inflation yardstick, the five-year inflation swap rate, which indicates future price growth expectations in the Euro area. The rate has been below the ECB's inflation goal due to declining oil prices, which have reached a five-year low. Michael Riddell suggests that falling oil prices will lead to lower headline inflation rates globally. The ECB faces pressure to implement quantitative easing, despite Germany's opposition, as the swap rate and oil prices complicate communication strategies.

What is Mario Draghi's inflation yardstick as mentioned in the text?

What was the five year inflation swap rate at the time of the discussion?

What is the ECB's inflation goal mentioned in the text?

How did the recent decline in oil prices affect inflation rates according to Michael Riddell?

What challenges does Mario Draghi face regarding communication with ECB policymakers?