11 April | Euro

Bloomberg poll: ECB monetary policy now hinges on US President's tariff decisions

Bloomberg poll: ECB monetary policy now hinges on US President's tariff decisions

Experts polled by Bloomberg forecast two more interest rate cuts by the European Central Bank (ECB) this year—but warn that US tariff policy could ultimately dictate the central bank's moves. In their view, the US President's decisions may change the strategy of the European regulator and have a negative impact on the region's economic recovery.

The experts' baseline scenario suggests ECB rate cuts of 0.25% each in April and June and then a pause until the end of 2026. However, Donald Trump's first months in office proved how unpredictable his actions can be. Thus, the experts polled by the agency cannot rule out alternative scenarios.

According to AFS Interest analyst Arne Petimezas, Donald Trump has managed to establish control over ECB monetary policy through erratic import tariffs.

Elena Berseneva MarketCheese
Period: 02.12.2025 Expectation: 435 pips
Consider buying AUDUSD amid higher investor appetite and weaker dollar
Today at 11:03 AM 14
Gold sell
Period: 31.12.2025 Expectation: 5000 pips
Selling gold from $4,200 per ounce
Today at 09:58 AM 18
Period: 05.12.2025 Expectation: 4000 pips
Closing gap near $430 to confirm Tesla’s next leg higher
Today at 09:38 AM 11
Brent sell
Period: 30.04.2026 Expectation: 300 pips
Brent crude selloff with $60.0 per barrel in sight
Today at 06:51 AM 14
Period: 02.12.2025 Expectation: 7800 pips
Buying Bitcoin on positive news from US Fed
Today at 06:51 AM 13
Period: 01.12.2025 Expectation: 1800 pips
Silver slides despite technical signals
Yesterday at 10:34 AM 43
Go to forecasts