Eurozone inflation at zero per cent in March

[BRUSSELS] Eurozone inflation stood at zero per cent in March, revised data showed Thursday, despite the European Central Bank boosting its already massive stimulus programme to beat deflation.

This was compared with minus 0.2 per cent in February and was revised from minus 0.1 per cent first reported on March 31.

Falling energy prices again were the major factor, down 8.7 per cent in March after a fall of 8.1 per cent in February.

Last month, the ECB added to its already unprecedented stimulus programme by slashing record-low interest rates and promising to pump even more money into the banking system in an effort to get the banks to lend freely again.

REUTERS