A Bloomberg poll showed that European Central Bank officials will wait until December to announce the next interest rate cut, which is likely to be the final step in the cycle. Economists have postponed their expectations for another decrease in borrowing costs by three months compared to a July survey. With the deposit rate stable at 1.75%, it is expected to remain at this level for nine to ten months before a rebound in demand forces a change in course. Waiting until the final decision in 2025 would give ECB policymakers more time to assess the impact of trade disruptions caused by U.S. President Donald Trump. By December, policymakers will have reviewed the third quarter economic performance, providing a clearer picture of the underlying momentum after distortions caused by earlier attempts to preempt U.S. tariffs. The new forecasts will offer an initial glimpse of growth and inflation trends in 2028.