ECB: "The easing cycle has ended"

11 September 2025

Commenting on today's interest rate decision from the European Central Bank (ECB), Irene Lauro, Eurozone Economist at Schroders, said:

"The ECB today appears to confirm our view that the easing cycle has ended. With trade uncertainty fading, the euro area’s recovery is set to accelerate. 

"Firms are likely to shed caution, boosting corporate borrowing and investment. Labour markets remain tight, with unemployment near record lows, and Germany’s frontloaded fiscal stimulus will add further fuel to the upswing.

"Risks have shifted for the eurozone from trade uncertainty to political instability, with France now in the fiscal spotlight. But the resilience of the economy and strengthening domestic demand means the ECB can afford to keep monetary policy unchanged."

Irene Lauro

Media contact

Wim Heirbaut

Press and media relations, BeFirm

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Schroders plc

Schroders is a global investment manager which provides active asset management, wealth management and investment solutions, with £776.6 billion (€906.6 billion; $1064.2 billion) of assets under management at 30 June 2025. As a UK listed FTSE100 company, Schroders has a market capitalisation of circa £6 billion and over 5,800 employees across 38 locations. Established in 1804, Schroders remains true to its roots as a family-founded business. The Principal Shareholder Group continues to be a significant shareholder, holding approximately 44% of the issued share capital.

Schroders' success can be attributed to its diversified business model, spanning different asset classes, client types and geographies. The company offers innovative products and solutions through four core business divisions: Public Markets, Solutions, Wealth Management, and Schroders Capital, which focuses on private markets, including private equity, renewable infrastructure investing, private debt & credit alternatives, and real estate.

Schroders aims to provide excellent investment performance to clients through active management. This means directing capital towards resilient businesses with sustainable business models, consistently with the investment goals of its clients. Schroders serves a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high net worth individuals, family offices, as well as end clients through partnerships with distributors, financial advisers, and online platforms.

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