ECB likely to cut benchmark interest rate: expert

Just ahead of the ECB meeting on May 2, Max King, investment strategist at Investec Asset Management, said that there may be plenty of debate over how much good a rate cut would actually do, but with inflation so weak -- annual inflation across the euro zone had dropped to a 3-year low of 1.2 per cent in April -- it's worth a try. Mr King indicated that he expects a reduction of a quarter point in the refinancing rate to 0.5 per cent.