European Central Bank policymakers lined up behind further interest rate cuts on Wednesday, indicating that next week's reduction is all but a done deal and further moves will also come even if the U.

European Central Bank Governing Council member Jose Luis Escriva said another reduction in borrowing costs at next week’s meeting is very probable as recent data confirm the outlook for inflation.

Slovakia’s ECB Governing Council member Kazimir believes that there will be another rate cut at the central bank’s January 30 meeting followed by another two or three back-to-back moves given the data.

Market expectations for European Central Bank interest rate cuts are reasonable and risks around the inflation outlook are broadly balanced, Croatian central bank chief Boris Vujcic said on Monday.