Economists believe the central bank will be comfortable with the inflation rate where it is, for now, but are watching for signs of disinflation.

Nothing threatening or controversial has emerged today regarding the euro so far, with a strong euro cited as a potential disinflation force, Bloomberg Intelligence Chief G10 FX Strategist Audrey Childe-Freeman says.

This reflects a resultant higher inflation narrative (higher energy prices). Beyond that, a subsequent calming in yields through the second half of the year would reflect the payment for that in terms of a hit to real growth. That's the way we see it for now, and we'll update as we progress through an uncertain number of weeks ahead.

By Balazs Koranyi FRANKFURT, March 3 (Reuters) - Euro zone inflation surged unexpectedly last month and may rise further in the coming months if war in the Middle East keeps energy prices high, possibly putting pressure on the European Central Bank to revisit its policy stance.

Despite the early pressure, the Euro later recovered some ground after stronger-than-expected economic data. The Eurozone’s final services PMI was revised higher, while unemployment in the bloc unexpectedly dropped to a new record low of 6.1% in January.

Eurozone inflation data should come in stable, but both downside or upside surprises can have a material impact on the curve