Wondering what the ECB might do next year? Here are five key questions that could shape the market outlook in 2025.

Will the European Central Bank hike rates, hold steady, or continue cutting? The answer depends on how inflation evolves, what the broader economy throws at us, and how geopolitical tensions play out. Right now, traders and investors are trying to decode signals from policymakers about the direction of monetary policy.

These questions matter because ECB decisions ripple across markets—affecting everything from crypto capital flows to traditional asset allocation. Whether rates move up or stay put could reshape how investors think about risk and returns next year.