Consumer price growth across the single currency bloc moderated to 1.7 per cent in September from 2.2 per cent the previous month
Euro zone inflation slowed more than expected in September appearing to cement the case for a further interest rate cut by the European Central Bank on Thursday.
Ireland was estimated to have the lowest inflation rate, as measured by the harmonised index of consumer prices , of any euro zone state at 0.0 per cent down from the a previous estimate of 0.2 per cent.Frankfurt is expected to lower its deposit rate from 3.5 per cent to 3.25 per cent as inflation retreats faster than expected and business activity across the euro area slows at a worrying pace.
This would be third ECB rate cut this year and the first back-to-back cuts announced by the central bank in 13 years. Markets have largely priced in today’s anticipated rate cut and focus will now turn to ECB president Christine Lagarde’s post-meeting comments.
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