The euro is sliding ahead of the ECB's latest interest rate decision

The euro is sliding late on Thursday morning as markets across the world wait for the European Central Bank’s latest announcement on monetary policy.

At 12:45 p.m. GMT (7:45 a.m ET) the ECB will release its latest decision on what it will do with interest rates across the continent. Markets are widely expecting a further cut, taking the bank’s base deposit rate from -0.3% to -0.4%, or potentially -0.5%.

Anticipation of the decision has sent the euro lower, and just after 11:30 a.m GMT (6:30 a.m ET) the euro is down against both the dollar and the pound. Europe’s single currency is off by 0.30% against the dollar, trading at $1.0968

Against the pound, the euro has slipped even further, with €1 currently worth £0.7719, a fall of 0.43% on the day. Here’s how that looks:

Elsewhere, European equities are in a subdued mood this morning, with no major European index moving more than 0.3%. Britain’s FTSE 100 is the biggest faller, down 0.35%, while Germany’s DAX has seen the biggest gains, up 0.25%. Equities in countries that use the euro are all in positive territory, however, the Stoxx 600 broad European index has fallen 0.04% so far on Thursday.

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