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Global Daily: Tough decisions

12 September 2025 12:16 RaboResearch

The ECB is still “in a good place.” The economy is humming along as domestic demand is seen offsetting some of the expected weakness in exports. And the ECB’s economists fiddled a bit with their inflation projections, but the Governing Council concluded that, overall, the inflation outlook was broadly unchanged. Therefore, they decided to keep the policy rates on hold for a second time in a row.

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Marketing communication / Non-Independent Research. This publication is issued by Coöperatieve Rabobank U.A., registered in Amsterdam, and/or any one or more of its affiliates and related bodies corporate (jointly and individually: “Rabobank”). Coöperatieve Rabobank U.A. is authorised and regulated by De Nederlandsche Bank and the Netherlands Authority for the Financial Markets. Read more