Institution: The European Central Bank is expected to cut interest rates by 25 basis points this week, with two more rate cuts anticipated later this year

ChainCatcher news, according to Jinshi reports, State Street Global Advisors analyst Konrad Kleinfeld stated that the European Central Bank is expected to cut interest rates on Thursday, with two more cuts anticipated this year.

Data from LSEG shows that the market has fully priced in the expectation of a 25 basis point rate cut at the upcoming European Central Bank decision. Following a 25 basis point cut in January this year, the remaining three cuts will bring the total monetary easing this year to 100 basis points.

Kleinfeld stated, "Despite recent developments and Europe's urgent need to increase defense and fiscal spending, we still believe that the European Central Bank will cautiously adjust its interest rate policy in this environment." The current main deposit rate of the European Central Bank is 2.75%.