REVIEW: ECB is “In a Good Place,”And Remains in “Wait and Watch” Position

by Brunello Rosa and Nato Balavadze

In this paper we discuss:

• The state of the Eurozone’s economy, which remains resilient in this turbulent period;
• The decision by the ECB to stay on hold in July, and perhaps for longer;
• How the economy has performed broadly in line with the June’s forecasts; 
• The muted market reaction to the expected decision. 

Download PDF: ECB Review July 2025