ECB seen cutting rates.

The Fed did its part Wednesday to perpetuate the global monetary easing status quo and the Bank of Japan has gone above and beyond. Now it's the ECB's turn — at least that's how the market sees things. With eurozone unemployment running at all-time highs and inflation tracking well below the ECB's target, expectations are for a 25 basis point rate cut. Regardless of the outcome, grave doubts will persist about the central bank's ability to combat a crisis which, increasingly, is seen as endemic to the structure of the currency bloc itself.