Of the 72 eurozone economists polled, around 46% think the ECB is “behind the curve” when it comes to cutting interest rates. Meanwhile, around 43% of economists think the ECB is on the right track. The remaining 11% are undecided. Here are the full poll results:
It’s almost a fair split, although I’d say it shows concern when the view is so divided in general. If nothing else, it shows that there is a significant portion of market watchers who believe the ECB is too slow in its approach. This comes amid the potential risk of lower inflation and/or a significant weakening of the economy this year.
As for when the ECB will end its rate-cutting cycle, most economists (~46%) expect the central bank to stop cutting rates in the second half of 2025. Meanwhile, ~21% expect the ECB to stop cutting rates in Q2 2025 and ~19% expect the ECB to stop cutting rates only after this year.
You can view the complete survey results here (they may be closed).