ECB policymakers expect a 25-basis-point rate hike on December 17, which would lift the deposit rate from 2.50% to 2.75%, according to three sources cited by Reuters. The hike is considered nearly certain unless energy prices fall sharply. Officials expect to pause further tightening afterward, as rising bond yields could reduce eurozone growth by 1 percentage point and inflation by 0.9 percentage points over 2027–2028.