1335 GMT - The European Central Bank's 25 basis point rate cut will be well received by European equity markets, which are still trading at a small discount to their fair value, Morningstar's chief equity strategist Michael Field says in a note. "With two more cuts forecast by the middle of this year, the ECB clearly believes that inflation in Europe is under control," Field says. While wages are still catching up, the recent bump in services inflation is likely temporary, he says. Field adds that interest rates could fall as low as 2% in 2025. "A structurally lower level of interest rates would be a boon for European equities, particularly those exposed to consumer spending." (emese.bartha@wsj.com)
(END) Dow Jones Newswires
March 06, 2025 08:36 ET (13:36 GMT)
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