As per Bloomberg report, ratings agency S&P economists see the European Central Bank (ECB) cutting the deposit rate by 20 basis points on Thursday. Markets have already priced-in a 10 basis point rate cut. German bond yield currently trades -0.55%, which is well below the 10 basis point rate cut expected by the markets. On Friday, MNI report had showed the ECB governing council members have no policy consensus beyond deposit rate cut. For more information, read our latest forex news.