Hungary’s new central bank leadership sees no room to cut interest rates because of a resurgence of inflation, according to people familiar with the outlook, cooling speculation that monetary easing may resume at a brisk pace later this year.

Inflation in Europe eased to 2.4% in February, supporting the case for another interest rate cut from the European Central Bank but leaving open how far the central bank will go in lowering borrowing costs.

Inflation in Europe eased to an annual 2.4% in February, supporting the case for another interest rate cut from the European Central Bank — but leaving open how far the central bank will go in lowering borrowing costs for an economy that’s still struggling to show robust growth.

Consumer prices in the eurozone were 2.4% higher in February than a year earlier, a slower rate of inflation than recorded in January, reassuring policymakers ahead of Thursday’s meeting.