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.

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.

Euro zone inflation prospects improved while growth remained anaemic, fresh data showed on Friday, solidifying the case for further ECB rate cuts to stimulate an economy that has been stagnant for nearly two years.

Falling energy prices made up much of the drop, but prices of services also lost pace.

Economists have added a big disclaimer to their view that the European Central Bank will cut interest rates three more times: Donald Trump.