Markets  |  February 28, 2013 11:20:00

Inflation does not prevent the ECB cut interest rates Inflation in the euro area, as measured by the consumer price index (CPI) fell in January year on year to 2 percent and gave space to the European Central Bank (ECB) to further reduce interest rates from the current 0.75 percent. The rate of inflation excluding energy prices year on year amounted to 1.9 percent. Consumer food prices rose by 0.5 percent and energy prices by 1.3 percent. Conversely cheaper prices of services.

ECB Board will meet on 7th Marchand economists still can not agree on whether there is a reduction in interest rates. A question mark hangs on the ECB's response to the report from the European Commission last week, predicts that this year's recession. ECB with your boss Mario Draghi will continue to monitor inflation developments carefully.

The number of unemployed Germans in February fell slightly after seasonal adjustment, fell by 3,000 to a total of 2,917,000, which originally featured a drop of 16,000 in January Office revised to 14 000 The unemployment rate in the euro zone's biggest economy is now at 6.9 percent. German labor market and demonstrates its resilience and stability even in the winter months.

Spanish economy in the last quarter of 2013decreased for the sixth consecutive quarter, and compared to the third quarter of its GDP fell by 0.8 percent. For the full year 2012 lost 1.4 percent. Paralyzes the economy mainly bursting real estate bubble and government austerity measures. The unemployment rate in the country is at a record 25 percent. Spain thanks to calm the financial markets still need assistance from the European Central Bank and is able to borrow self-help access to the capital market. The government only last year asked the European Union for help for the banking sector, burdened with tens of billions lost in real estate loans.

Currency pair EUR / GBP slightly corrected its losses to 4 hours chart. Currently the situation is still bearish. The market will probably lower peak created and directed at the level of the 50th Fibonacci Reviews Support There should really be shown, at what stage the market is located.If we can break through this support, we have an open path to the price of 0.8586.

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