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Koefoed: Eurozone inflation 'very concerning'

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The latest Eurozone CPI numbers are yet more grim reading for the ECB. August CPI was 0.3% - down from 0.4% in July. The threat of deflation just seems to get closer with inflation falling since 2011. 

The ECB is considering QE as a solution to stave off deflation, alongside benchmark interest rates at 0.15% and a negative deposit rate.    

The latest unemployment figures this week were also dismal, Eurozone unemployment was 11.5%, showing that it's taking longer than expected to come down from the 12% peak.  

Saxo Bank's Head of Macro Strategy Mads Koefoed gives us his immediate reaction and considers the ECB's strategy.