Eurozone inflation drops to below ECB target.

Eurozone CPI fell to an expected +1.8% on year in February from +2% in January, putting inflation below the ECB's target of just under 2%. That could give the bank more scope to further ease monetary policy. The data comes as EU leaders meet on day two of a summit in Brussels, where they might come to some formulation on a rescue for Cyprus. The participants have already indicated that some countries could get more time to fulfill their deficit targets and leeway for government stimulus to boost the bloc's wretched economy.