Eurozone Inflation Comes In Weak, And The Euro Is Tanking

We just got one of the most important number of the week: Eurozone inflation. And it came in weak.

For March, the rate of inflation was 0.5%, down from 0.7% in February, and lower than the 0.6% that was expected.

Here's the quick chart, made by Eurostat. You can see how in almost all of the major categories, pricing pressure was down from February.

In respsnse to the number, the Euro is tumbling.

That's because the number improves the likelihood of some kind of aggressive ECB easing action this Thursday.

As WSJ's Kate Martin notes, this is the weakest inflation number since 2009. If the ECB is going to do anything, now is the time, it would seem