An poll of 97 economists following the ECB showed a strong consensus towards a cut in June. All but 6 of them are forecasting a cut in June, which is exactly what many ECB Governing Council members have foreshadowed.
How much they cut this year is more of a debate with 59 seeing 75 bps or less of cuts this year and 38 seeing 100 bps or more.
The euro is struggling today despite improving risk sentiment. It’s down 23 pips to 1.0630 and very close to the session lows.