(ANSA-AFP) - BRUSSELS, APR 3 - The eurozone's annual rate of
inflation dropped further than expected in March, official data
showed Wednesday, fuelling hope that the European Central Bank
will cut interest rates in June. Consumer price rises in the
single currency area slowed to 2.4 percent, from 2.6 percent in
February, the EU's statistics agency said. Analysts surveyed by
FactSet had predicted inflation would remain stable at 2.6
percent while economists asked by Bloomberg expected a smaller
drop to 2.5 percent. The figure is getting closer to the ECB's
two-percent target, which will make the case for cutting rates
in June stronger, but analysts do not expect a cut at the next
monetary policy meeting on April 11. The Frankfurt-based bank
has held rates steady since October 2023 after an aggressive
rate-hiking campaign to tame soaring inflation. (ANSA-AFP).
ALL RIGHTS RESERVED © Copyright ANSA
