We just got one of the most important numbers 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.
The Euro originally tumbled on the news, however it quickly rebounded.
As WSJ's Kate Martin notes, this is the weakest inflation number since 2009.
Pressure has been building on the ECB to take some kind of easing action to fight the disinflationary trend, but every time anyone predicted action they've been disappointed.
Now the expectations are ratcheting up again for this Thursday. Will the ECB throw something at the wall to see if prices can be boosted, or will they risk the ECB becoming Japan, mired in low growth and deflation/disinflation of years..