Economists expect Eurozone economy to be hit by Trump tariffs early next year | Forexlive

• 37 of 44 economists expect Trump’s proposed tariffs to be implemented early next year
• 34 of 39 economists expect said tariffs to significantly impact the Eurozone economy

As a result of those expectations, economists are also anticipating the ECB to stick with further rate cuts going into next year. For December, 69 of 75 economists expect a 25 bps rate cut with another 2 expecting a 50 bps rate cut.

As for year-end 2025, 43 of 63 economists are seeing the ECB deposit rate to reach 2.00% or lower as the rate cut cycle continues.