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.