Eurozone on the ROCKS: Inflation PLUNGES further as ECB scrambles to save EU economy

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ECB chief Mario Draghi order give an economy update later this week

Despite foolhardy efforts by policymakers to raise inflation, it came in at just 1.3 per cent in June, the European Commission this week established.

The ECB has slashed interest rates below zero and injects billions into the eurozone every month in the anticipation of lifting the economy.

Yet inflation continues to disappoint, with stagnant consequences taken as a sign of weak consumer demand.

ECB chief Mario Draghi could on a former occasion again be forced to defend his policies during an update later this week.

German politicians have been among the harshest critics of the top nummular policymaker and called for an end to the extreme policies that are hurting savers.

Putting, Mr Draghi has stuck with the controversial measures.

And the ECB president has continued to juncture to low inflation as a major barrier to removing support for the economy — even albeit economy growth has picked up in recent months.

It comes after cash policymakers recently revised inflation forecasts for the eurozone down.

The euro bank’s informed money-printing programme is set to come to an end in December and markets are now trying to guess the ECB’s next agreement withs.

And traders are set to hang on to Mr Draghi’s every word when he talks on Thursday.

The euro has buttressed amid expectations that the programme could wind down.

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