Euro zone inflation eased to 2.4% in February according to statistic agency Eurostat. This was lower than January's 2.5% reading, but higher than expected by economists polled by Reuters. So-called core inflation,

Euro zone inflation dipped a bit less than expected last month but its most closely watched component also dropped, sealing the case for another ECB interest rate cut on Thursday and solidifying bets for further policy easing in the coming months.

It is widely expected that the ECB will again reduce borrowing costs when it meets next as inflation remains under control and the Eurozone economy slows. Wage growth has also cooled in recent months, further supporting the case for more rate cuts.

Inflation in Europe eased to an annual 2.4% in February, supporting the case for another interest rate cut from the European Central Bank - but leaving open how far the central bank will go in lowering borrowing costs for an economy that's still struggling to show robust growth.

For four years, the ECB has been trying to slow the economy down, raising its key deposit rate to a record 4 percent to choke off inflation, before gradually lifting its foot off the brake since June. Next week’s expected rate cut will be the sixth in the current sequence, and will bring the deposit rate down to 2.5 percent.

Consumer prices in the eurozone were 2.4% higher in February than a year earlier, a slower rate of inflation than recorded in January, reassuring policymakers ahead of Thursday’s meeting.

Eurozone inflation eased to 2.4% in February but remained above forecasts, complicating the ECB’s rate-cut plans. Monthly price pressures, meanwhile, hit a 10-month high. View on euronews