European Central Bank cuts interest rates again and lowers growth forecasts

European Central Bank on Thursday delivered a quarter -point interest rate cut, marking its second reduction to the deposit rate this year .

ECB lowered its 2024 growth forecast to 0.8% , down slightly from an earlier projection of 0.9% , citing "weaker contribution from domestic demand over the next few quarters " The ECB 's meeting comes just days before the Federal Reserve appears poised to start its own rate-cutting cycle.

Economists and strategists overwhelmingly expect the European Central Bank to deliver a quarter -point interest rate cut on Thursday .

The highly anticipated rate decision is expected at 1:15 p.m. London time.

ECB President Christine Lagarde is seen as likely to stick to central bank's recent narrative that interest rate decisions are data-dependent and taken on a meeting-by-meeting basis.

European markets open sharply higher ahead of ECB rate decision on Thursday .

ECB wary of 'many risks' surrounding the growth outlook, S&P Global Ratings economist says.

Goldman Sachs chief European economist Jari Stehn says ECB likely to deliver a quarter -point rate cut.

UBS CEO Sergio Ermotti suggests a "moderate" interest rate cut is appropriate course of action.