ECB chief Christine Lagarde has been signalling 'steady as she goes' several times in recent comments. The debate in Europe and regarding the European Central Bank’s (ECB) next move is all but closed. The final reading before the ECB meets on December 18th is expected to confirm the no-change bias. The inflation outlook hinges on the impact of US tariffs, which has yet to play out. At the moment, markets are pricing no further interest rate cut in December.

Source: The Irish Times December 02, 2025 06:15 UTC