The European Central Bank is expected to cut interest rates as the disinflationary process continues amid worries about the strength of the economy.

The European Central Bank is all but certain to cut interest rates on Thursday and is likely to keep open the door to further policy easing as concerns over lacklustre economic growth supersede worries about persistent inflation.

The ECB is expected to drop its main lending rate from 3 per cent to 2.75 per cent, its fifth cut since last July.