11 April 2025 | 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: 25.06.2026 Expectation: 235 pips
ETHUSD sell-off targets $1,500
Today at 09:12 AM 2
Gold sell
Period: 25.06.2026 Expectation: 2100 pips
Sell gold with $4,110 in sight as Fed stays hawkish
Today at 06:40 AM 15
Period: 30.06.2026 Expectation: 400 pips
Покупка USDJPY до уровня 160,00
Today at 05:26 AM 30
Period: 31.12.2026 Expectation: 1800 pips
Invest in SPX with $7,700 in view
Today at 04:47 AM 9
Period: 30.06.2026 Expectation: 1500 pips
Buying Brent crude from $72.5 per barrel
Today at 04:47 AM 11
Period: 24.06.2026 Expectation: 720 pips
USDCAD shows signs of continued rally after exiting overbought territory
Yesterday at 12:00 PM 25
Go to forecasts