Euro zone inflation eased to 2.4% in February according to statistic agency Eurostat. This was lower than January's 2.5% reading, but higher than expected by economists polled by Reuters. So-called core inflation,

Euro zone inflation dipped a bit less than expected last month but its most closely watched component also dropped, sealing the case for another ECB interest rate cut on Thursday and solidifying bets for further policy easing in the coming months.

The euro edged higher after the European Central Bank cut interest rates but signaled it could move cautiously with further easing. The euro rose 0.3% to $1.082. It had been flat

The ECB cut interest rates by 25 basis points and updated the language in its decision to say monetary policy was becoming “meaningfully less restrictive.”

The European Central Bank cut its economic growth expectations for the euro zone once more on Thursday and raised its projection for inflation this year, even as it predicted price growth back at target in 2026.

Inflation in Europe eased to 2.4% in February, supporting the case for another interest rate cut from the European Central Bank but leaving open how far the central bank will go in lowering borrowing costs.

Euro zone inflation edged down slightly in February to 2.4% thanks to a slowdown in energy price increases, official data showed today.