Inflation has fallen rapidly in recent months and the ECB said in October it now expects it to oscillate around the 2% target in the coming months. It could then settle at the target in the first half of the 2025, earlier than the ECB last predicted.

The European Union faces growing threats to its trade with other parts of the world, and must respond by deepening its capital markets to finance innovation and increased productivity, European Central Bank President Christine Lagarde said.

European Central Bank President Christine Lagarde has renewed her call for economic integration across Europe, arguing that intensifying global trade tensions and a growing technology gap with the US create fresh urgency for action.

Wages in the eurozone rose at a much faster pace during the three months through September, although signs of a slowdown next year will likely ease concerns at the central bank.