Reuters economists forecast another ECB rate cut in September

According to a Reuters economist survey, the European Central Bank (ECB) is expected to conclude its monetary easing cycle with a final rate cut in September. Nearly 60% of respondents assess balanced risks to their eurozone inflation forecasts for both the remainder of this year and next year.

Persistent concerns about the unpredictable trade policies of US President Donald Trump have been partially offset by optimism over capital inflows into Europe and Germany’s infrastructure development plans.

More than 53% of respondents (46 out of 86) forecast one borrowing cost reduction by the European regulator in September. 21 economists expect the ECB to hold rates steady, while 19 anticipate another rate cut.

Survey respondents project EU GDP growth of 1.0% this year, up from May's 0.9% estimate. For 2026, economists forecast the region’s economic expansion accelerating to 1.1%, reaching 1.5% in 2027.