Eurozone inflation revised down to 0.3 percent

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Official figures show that inflation across the 19-country eurozone was lower than previously thought in January — a development that's likely to further strengthen expectations that the European Central Bank will unveil a further stimulus next month.

The European Union's statistics agency says Thursday that the annual rate of inflation in January was 0.3 percent, against its previous estimate of 0.4 percent.

The revision was not anticipated in the markets and comes ahead of Monday's first estimate for February. The figure could go a long way to determining what the ECB does at its next policy meeting March 10. Most analysts expect the bank to provide more stimulus to the eurozone economy in an attempt to generate growth and get inflation back to its target of just below 2 percent.