Opinions on how big the rate cut will be are still split, with economists divided over whether the ECB will stick to a tried-and-tested 50 basis point cut or go for a record 75 basis points.
Two-thirds of analysts in a Reuters poll see a 50 basis points cut which would take rates to a 2.75 percent - a two year low - but 24 of the 81 economists polled think policymakers will go for a 75, or even 100 basis point cut.
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