According to a Bloomberg survey, the European Central Bank (ECB) is expected to ease the pace of rate hikes to 0.25% from next week as the central bank weighs a pullback in bank lending against sticky inflation and a more resilient than expected economy.

It is anticipated that beyond next week’s hike, further 0.25% hikes in June and July will be delivered taking the peak rate to 3.75%. The results envisage that the first cut to borrowing rates will occur in October.