Eurozone inflation falls towards ECB target.

 Eurozone CPI dropped to an expected 2% on year in January from 2.2% in December, with inflation now close to the ECB's target. The decline adds weight to a forecast from Mario Draghi yesterday that CPI will fall to significantly below 2%. He also said the ECB is "far" away from tightening its monetary policy, although a couple of other policy makers were rather more hawkish in remarks they made.