The European Central Bank is set to take the lead in cutting interest rates ahead of the U.S. Federal Reserve, marking the eurozone as the largest rich-world economy to initiate easing borrowing costs for businesses and consumers. The move comes as inflation, triggered by Russia's full-scale invasion of Ukraine, gradually recedes.
ECB President Christine Lagarde and other officials have indicated a likely quarter-point rate cut from the current record high of 4% when the bank's governing council convenes in Frankfurt, Germany. Lagarde expressed confidence in controlling inflation in the eurozone, comprising 20 European Union countries that use the euro currency.
