According to Jinshi Data, Deutsche Bank believes that the European Central Bank has ended its easing cycle. Previously, the bank had expected the European Central Bank to cut rates in September, with a terminal rate of 1.50%. However, they also noted that the easing cycle might stop at 1.75% or 2.00%.

Deutsche Bank now predicts that the next move by the European Central Bank will be an interest rate hike, expected to be achieved by the end of 2026.