Interest Rates

ECB to hold with first rate cut locked in for June – poll

Just one of 62 economists predicted a cut to interest rates when the European Central Bank meets today

Officials aren’t quite ready to start dialling back the unprecedented spate of rate hikes they enacted to tame prices. Picture: Getty Images

The European Central Bank (ECB) is set to keep borrowing costs at a record high of 4 per cent while further readying the ground for cuts to begin in June, according to an almost unanimous poll of economists by Bloomberg.

Just one of the 62 respondents predicted a quarter-point reduction when the ECB meets today.

While inflation has retreated to within sight of the 2 per cent target, officials aren’t quite ready to start dialling ...