ECB Officials Say Cycle of Rate Cuts Is Most Likely Over

European Central Bank officials expect the cycle of interest-rate cuts to most likely be finished based on the latest outlook for growth and inflation, according to people familiar with the debate.

Unless there’s another major shock, the deposit rate should be able to stay at 2% following eight reductions from a peak of 4%, the people said, asking not to be identified because the discussions are private. Any talk of rate increases was seen as premature, however.