ECB stimulus paying off as eurozone inflation hits target

Brussels

EUROZONE inflation in February hit the European Central Bank's (ECB) 2 per cent target for the first time since 2013 as its massive economic stimulus appeared to be finally paying off, figures showed on Thursday.

Unemployment in the 19-country single currency area in January meanwhile was 9.6 per cent, unchanged from December, but holding at its lowest rate since May 2009, the Eurostat statistics service said.

Analysts said that the figures showed consumers have largely put aside immediate concerns over Brexit and the new US administration, b…