The fall in March CPI inflation is welcome news to the ECB.  The decline indicates that the recent rise in prices was fully the result of higher energy costs.  This news will allow the ECB to remain on hold this year.  Low inflation, a cyclical economic acceleration,  and easy monetary conditions point to higher equity prices.  Let’s hope France does not upset this outcome!

http://uk.reuters.com/article/uk-germany-economy-inflation-idUKKBN17112E