After today’s eurozone inflation data showed the lowest reading at 1.1% in the history of the euro, the ECB has fewer worries and has scope to cut rates, says the EU economic czar. he says he understands the Bank’s reluctance to move toward ZIRP but says fiscal stimulus won’t work unless credit begins to flow.
EUR/USD has come under pressure amid hopes that the ECB will not skip a rate cut at its monthly meeting on Thursday, as it has signalled up to now.
