Frankfurt (Reuters) – A new decrease in guiding rates of the European Central Bank (ECB) should be decided in March without much opposition before the debate is abounded afterwards, Reuters learned from three sources within the Council of governors of the institution.

Those officials of the euro zone monetary policy unanimously approved Thursday a fifth drop in borrowing costs since June 2024, reaffirming to anticipate return inflation this year to the target of 2%, in a context of low economic growth.

Three monetary policy leaders within the ECB told Reuters, after Thursday’s meeting, observe a consensus in favor of a new drop in rates at the meeting of March 6, which would bring the deposit rate at 2.5%.

But they say they expect a harsher and more in -depth discussion on future decrees after this meeting, which could involve a break in April. They expressed themselves under the cover of anonymity, because the subject has not yet been examined by the Council of Governors.

Asked, a spokesperson for the ECB refused to comment.

Christine Lagarde, president of the ECB, said that there had been no discussion at Thursday’s meeting on the terminal rate and that the extent and pace of the next rates would be determined by the incoming data.

However, she specified that the central bank services would publish a new estimate of the “neutral” interest rate on February 7, that is to say, that which does not stimulate or slow down economic growth. The ECB is currently considering that the neutral rate is between 1.75% and 2.50%.

(Balazs Koranyi and Francesco Canepa report; Claude Chendjou, edited by Sophie Louet)

Copyright © 2025 Thomson Reuters