ECB under growing pressure to cut rates

ECB under growing pressure to cut rates
The heat is on the European Central Bank to cut rates amid growing deflationary fears in Europe, but analysts are divided over whether it will act as soon as this week. The annual rate of inflation for the 17 countries that share the euro slowed unexpectedly to just 0.7 percent in October, the lowest rate in four years, raising fears the single currency area may tip into deflation -- a vicious circle of falling prices, wages and output. 

Euro on the ropes after dive in inflation
The euro tumbled to a two-week low on Friday after a plunge in euro zone inflation left markets suddenly eyeing the outside chance of a cut in interest rates by the European Central Bank next week.