Deutsche Bank’s base case is that the European Central Bank (ECB) will keep interest rates on hold for the whole of 2026 before delivering a hike midway through 2027. In a research note, published on Wednesday – the day before the ECB’s latest rates decision, it acknowledged, however, there was still the faint possibility of a further rate cut this year. “But the case for a further easing of monetary policy has not been proven yet,” it says. [...]