(Reuters) – BNP Paribas expects the European Central Bank (ECB) to deliver its first interest rate cut in April 2024 and a “gradual pace of cuts” through the year, citing weak economic activity and easing inflation. BNP Chief Economist Luigi Speranza sees ECB’s benchmark rate at 3.25% by 2024-end, from 4% currently, with the first cut expected to be by a quarter percentage point. Traders currently expect 140 bps of cuts through next year, after latest data showed inflation slowed more than expected. A less hawkish tone from ECB hawk Isabel Schnabel this week strengthened these bets, with money…