Latest data released by Eurostat - 30 January 2020

Labour market conditions continue to remain tight with the unemployment rate easing to its lowest level since May 2008 towards the end of last year. This shows that the slowdown in the region hasn't quite really impacted the broader economy all too much.

However, despite such tight labour market conditions, inflation is still a key issue that the ECB is struggling with and they will have to try and figure out something or risk falling into the same trap that Japan and the BOJ has found themselves in.