Eurozone business growth at 4-year high: poll

London

BUSINESS activity in the eurozone picked up at its fastest pace since mid-2011 this month - and far faster than expected - as a weak currency and price cutting helped drive new orders, a survey showed on Monday.

While the upturn in activity may be welcomed by European Central Bank (ECB) policymakers, the discounting by firms suggests the ultra-loose monetary policy is doing little to get inflation anywhere near their 2 per cent target ceiling.