Eurozone inflation cools to 1.7% in September** - The inflation rate has fallen below the ECB's target of 2% for the first time in over three years. ECB cuts interest rates - The European Central Bank has intervened with back-to-back interest rate cuts since the euro crisis in 2011, in response to tumbling inflation and a weakening economy. Economic outlook - With Germany on the brink of a recession and growth expected to slow in the eurozone, the ECB is focused on promoting growth and ensuring a soft landing for the economy. Interest rate cuts around the world - The Federal Reserve and the Bank of England are also considering trimming rates in the coming months, contributing to a surge in gold prices.