STORY: Euro zone inflation accelerated in November, data showed on Friday (November 29).
Consumer price inflation in the 20 countries sharing the euro stood at 2.3%.
That was marginally up from a month earlier and above the European Central Bank's 2% target, but it was in line with expectations.
Underlying inflation is the ECB's prime focus when setting interest rates, and it held steady at 2.7%.
Price growth in services slowed very slightly to 3.9%.
Friday's reading suggests inflation is slowly heading back to the ECB's target on a more durable basis next year.
The key question for now is whether a 25 basis point move on December 12 is enough.
Or whether the bank might go for a bigger, 50 basis point move.
Some argue services prices remain too high and wages are still expanding quickly.
But supporters of the bigger cut say the economy continues to just about avoid recession.
They believe a bigger boost is needed to protect jobs since a rise in layoffs would hurt already weak demand.
For now, markets have fully priced in a smaller cut but see less than a 10% chance of the bigger, 50 basis point move now.
But expectations have been volatile and opinions have shifted significantly recently.
Investors are betting on a steady stream of rate cuts with policy easing expected at every meeting at least through next June.
