Reported 4 months ago
Euro-area inflation in May rose to 2.6% from a year ago, higher than the 2.4% in April, surpassing analyst estimates. The European Central Bank plans to cut the deposit rate from its current 4%. While money markets still anticipate a quarter-point cut, ECB officials are prepared to ease monetary policy despite inflation fluctuation and slow progress towards the 2% target. National reports indicated mixed acceleration in major euro economies, with concerns raised over rising service sector inflation and potential multiple rate cuts in the future.
Source: YAHOO