FRANKFURT — The European Central Bank is set to cut interest rates for the first time in five years on Thursday, offering some welcome relief for the region’s economy — and for its president, Christine Lagarde.
The widely-telegraphed move comes amid massive uncertainty about how many more cuts may follow after that: Investors have slashed their cumulative rate cut expectations for this year by more than half from the peak in December to around 60 basis points today.
Currently, the key ECB deposit rate stands at a record high of 4 percent.
ECB to deliver historic rate cut on Thursday
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