ECB set to deepen global easing with rate cut

The bank's president, Christine Lagarde, may be quizzed both on the path forward for further cuts and on what materially changed from the September meeting

Economists now reckon the European Central Bank will speed up its easing to bring borrowing costs down to a level that no longer constricts the economy by the end of 2025. Picture: Michael Probst/AP

The European Central Bank (ECB) is likely to advance the global push for monetary easing this week with an interest rate cut that policymakers had all but ruled out a month ago.

The third quarter-point reduction of this cycle is seen as likely by economists to herald a longer-lasting acceleration in action by officials seeking to cushion the eurozone from the hit to growth created by an extended period of high borrowing costs, and now playing out with a lag.