Eurozone inflation estimate reaches ECB 'ceiling'

Eurostat released a preliminary estimate for April inflation in the eurozone Friday showing that the rate had risen to a higher than expected 2.0 per cent from 1.7 per cent in March.

The surge in inflation, which now stands above the European Central Bank's definition of price stability as a rate "below but close to 2 per cent," is expected to make a cut in interest rates less likely in coming months.

Eurozone politicians have been clamouring for a cut to help boost anaemic growth in the 12 nat

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