ECB to begin cutting rates even as inflation fight continues

ECB president Christine Lagarde. — Reuters

FRANKFURT: The European Central Bank (ECB) is all but certain to cut interest rates from record highs and likely to acknowledge it has made progress in its battle against high inflation, while also stressing the fight is not yet over.

ECB policymakers had clearly telegraphed their intention to lower borrowing costs after seeing inflation in the 20 countries that share the euro fall from more than 10% in late 2022 to just above their 2% target in recent months.