Mario Draghi justifies the European Central Bank’s ultraloose policy by pointing to the wide divergence between growth, of which there is plenty, and inflation, of which there isn’t. Fresh data out Wednesday fit that stance well, meaning next week’s ECB meeting will signal small tweaks in direction at best. First, the good news. Eurozone unemployment fell to 9.3% in April, its lowest since March 2009 and down nearly a full percentage point from a year earlier. Combined with buoyant indicators of sentiment and eurozone...

Source: Wall Street Journal May 31, 2017 11:57 UTC