ECB in spotlight over rate cut as it meets Thursday after dire factory European output survey

The ECB is in the spotlight ahead of a meeting today as it ponders making significant moves, including a rate cut that would be earlier than expected, following a survey on the dire health of manufacturing across the eurozone.

At a minimum, the central bank — as its head Mario Draghi prepares to step down in the coming months to be succeeded by Christine Lagarde from the IMF — is expected to sanction a new round of stimulus at today’s meeting and then cut its deposit rate at its September meeting.