After 10 successive rate rises, eurozone inflation, which peaked at 10.6 % in October 2022, has been falling steadily. It reached 4.3% in September.Although that means prices are still rising, the ECB has said the cost of borrowing is now high enough, and the effects of previous rises will continue to filter through.In a statement, the ECB's governing council said inflation was still expected to stay "too high for too long", but insisted rates were at levels that, if maintained for a sufficiently long duration, would make a "substantial contribution" to meeting its target of 2%.

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