Any announcement is going to be a little late, from the look of it. Amazon UK has cut the price of all its 360 SKUs this morning, following news last night that a Dutch retailer had detailed euro-priced cuts and the German FT had run a story saying Microsoft is to drop the price of the console today.
The Arcade pack on Amazon is now under £150, at £149.99. The retailer is selling the Premium pack for £189.99 and the Elite for £249.99.
The drop now means Xbox 360 is the cheapest current gen console in Europe. A British Wii currently costs £179.98 on Amazon.