ECB may take more action to reach 2% inflation target

The European Central Bank is under pressure to take further steps in its monetary policy in order to reach the inflation target set at 2% after a report showed that price level in the Eurozone slowed down to the lowest level all-time at 0.8%, Ben May from Capital Economists said on Wednesday. The statistical office Eurostat also reported that core inflation fell to 0.8% in December from a level of 0.9% in the prior month.