Markets are pricing in a 25 basis point rate cut from the ECB. Here's what analysts say about its potential next steps and what they might mean for consumers.

Europe's stocks were rising, with investors convinced that the continent's central bank will slash interest rates again on Thursday. The flagship Stoxx 600 index rose 0.4% in morning trading. Frankfurt's Dax was also up 0.

Traders are increasingly confident the European Central Bank will pause its run of interest rate cuts now that the central bank sees itself as well-positioned to deal with global economic uncertainty fuelled by U.