Consumer prices in Belgium fell 1.1% on the year in June after a fall of 0.37% in May, the country's economics minister has said.

Inflation across the 16-nation eurozone has slowed in recent months, allowing the European Central Bank to aggressively cut interest rates. The central banks base rate now stands at 1.0%, a vast fall from 4.25% in early October.

However, some ECB officials are warning that inflation could rebound rapidly once economic growth recovers, suggesting that the ECB won't cut rates furthers.

The euro exchange rate is currently 0.85356 against the pound.

The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.