FILE - President of European Central Bank, Christine Lagarde, attends a press conference after an ECB's governing council meeting in Frankfurt, Germany, on Jan. 25, 2024. The European Central Bank appears ready to start cutting interest borrowing costs for businesses and consumers - and do it ahead of the Fed. Analysts say a first rate cut is coming Thursday when the bank's policymakers meet in Frankfurt, Germany. . (AP Photo/Michael Probst, File)