ECB rate cut to counter inflation

There is consensus amongeconomic commentators that the European Central Bank is set to cut its rate by 0.25% tomorrow, in an effort to keep inflation in check.

European stock indices have been trading strongly on the expectation that the ECB will pump a monetary stimulus into the economy.

The Irish Stock Exchange recorded its strongest June since 2005. The ISEQ gained 2.3% following losses in April and May.