David McNamara: Has the ECB declared victory over inflation?

After last week's interest rate cut, ECB president Christine Lagarde said headline and core inflation were 'all heading in the same direction: downwards'

Christine Lagarde announced the first consecutive rate cuts from the ECB in 13 years.

Last week’s ECB policy meeting marked a firm shift in the focus of the Governing Council away from inflation towards growth concerns in the eurozone. 

For the third time this year, it purl=https://www.irishexaminer.com/business/economy/arid-41497778.html] reduced rates by 25 basis points[/url] (bps), with the deposit rate lowered to 3.25%, while the refinancing rate was decreased to 3.40%.