Rate cuts are coming from the European Central Bank and the Fed. Experts say the pace will be mild

AP Business Writer

FRANKFURT, Germany (AP) — Inflation’s down and growth is mediocre in Europe. And that means the European Central Bank will likely cut interest rates on Thursday. A rate cut might help growth that’s slower than many would like. The bank can do that because inflation seems to be more and more under control at only 2.2% in August. Experts are saying there probably won’t be a rapid series of further cuts. Instead, the ECB will make sure inflation is going to fall to its 2% target and stay there.