Figures yesterday showed that the eurozone economy grew faster than expected in the third quarter of last year, justifying the ECB's hikes in interest rates to 4pc and its plans to raise them further.

Those plans were shelved when the credit crunch struck in August, but inflationary pressures from last year's strong growth make it unlikely the ECB will follow the US Federal Reserve and the Bank of England with early cuts in rates.  Continue Reading from source:  Independent.ie