Euro zone inflation steady at 2.4%, keeping June rate cut in play as economy returns to growth

Euro zone inflation remained stable at 2.4% in April, aligning with expectations, while the core inflation rate slightly exceeded forecasts, cooling to 2.7%. Concurrently, the euro zone economy showed signs of recovery with a 0.3% growth in the first quarter, following a technical recession in the latter half of the previous year. These developments have heightened market anticipation for a potential interest rate cut by the European Central Bank in their June meeting.