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International Business Times
International Business Times
Business
Michelle FITZPATRICK

ECB To Stand Pat And Urge Patience On Rate Cuts

ECB Christine Lagarde Inflation the European Central Bank Europe eurozone US Federal Reserve
With the European Central Bank expected to keep interest rates steady, ECB watchers will be more interested in what president Christine Lagarde has to say at her press conference, hoping for clues on when the bank might start slashing borrowing costs (Credit: AFP)

The European Central Bank is expected to stand pat Thursday and call for patience in the ongoing battle against inflation, pushing back against market hopes of rapid interest rate cuts.

The Frankfurt institute launched an unprecedented rate hiking cycle in mid-2022 after Russia's war in Ukraine pushed food and energy costs higher, sending inflation soaring.

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