When are those rate cuts coming, already? The European Central Bank may be providing some hints

Markets are waiting to hear what European Central Bank President Christine Lagarde has to say about the timing of a first interest rate cut. Analysts say the bank isn't likely to change rates at its policy meeting Thursday. But Lagarde could prepare the ground for a move at the next meeting in June, as she has been hinting. Markets are on edge generally about the timing of rate cuts after higher than expected inflation figures in the U.S. Those figures mean the Fed may wait longer than expected to lower the costs of borrowing for businesses and consumers. In Europe however, inflation has been declining steadily — and the ECB may now beat the Fed to the first cut.