ECB Will Cut Interest Rates, But Don't Expect Quantitative Easing

The European Central Bank is preparing for a policy-setting meeting on Thursday where it's poised to tackle the issue of very low inflation. Johanna Treeck, senior ECB correspondent for MNI News, says the central bank will most likely decide to cut interest rates after eurozone inflation fell to 0.5% in May, well below the ECB's 2% target. But with many calling for the ECB to do more than cut interest rates, Treeck explains why it's unlikely the central bank will go as far as quantitative easing. Treeck says the ECB does not currently see a risk of deflation, and due to political complications, she believes the inflation outlook would have to deteriorate further before quantitative easing could occur. Brittany Umar reports from New York.