Traders expect a 20 per cent chance that the ECB will cut rates by 50 basis points in December

European Central Bank officials expect inflation to reach 2 per cent in the first or second quarter of next year and see a very high likelihood of a rate cut in December, sources said. Officials did not discuss the option of a 50 basis point rate cut this week. Traders expect a 20 per cent chance that the ECB will cut rates by 50 basis points in December.