Jefferies Financial global economist Mohit Kumar said that given the European Central Bank has already begun to cut interest rates, its interest rate path is much clearer than that of the Federal Reserve. For the European Central Bank's upcoming meeting on Thursday, Jefferies Financial predicts that the bank will cut interest rates by 25 basis points, in line with market expectations. In a report, he said, 'We expect the European Central Bank to gradually cut interest rates by 25 basis points per quarter at the upcoming meetings, depending on the data, and cut rates to below 3%.' Kumar said that if economic growth and inflation data meet expectations, the interest rate trough of the European Central Bank is expected to be around 2.50%-2.75%. The current deposit rate of the European Central Bank is 3.75%.