ECB is ready to start cutting rates, says chief economist

The European Central Bank has sent a clear signal that it will cut interest rates from their historic highs next week, as its chief economist brushed off fears that doing so before the US Federal Reserve could backfire.

The ECB now looks almost certain to be one of the first major central banks to cut rates, having been criticised for being one of the last to raise them after the biggest inflation surge for a generation three years ago.

Source: Financial Times