Is the ECB Going to Further Rate Cuts?

In a few hours the ECB is going to meet and talk about the state of the European economy and whether the actions of further lowering refinancing rates and the deposit rates. The last move that occurred was a lowering by 25 bp to 0.50%, with the possibility of further action if data continued to disappoint. One piece of data that has not disappointed is German CPI, rising to 1.5% YoY for the month of May from the low of 1.2% in the previous month.

Other events that will likely be discussed/released are as follows