The European Central Bank cut its economic growth expectations for the euro zone once more on Thursday and raised its projection for inflation this year, even as it predicted price growth back at target in 2026.

Consumer prices in the eurozone were 2.4% higher in February than a year earlier, a slower rate of inflation than recorded in January, reassuring news for central bank policymakers as they prepare to meet later this week.

The news that the European Central Bank has cut interest rates for the sixth time in the past 12 months is a positive development for Irish consumers and businesses.