Markets expect the ECB to hike by 25bps, the first rate hike since 2023, but do not look for explicit guidance on the path ahead, with the Council likely pledging in the statement to set monetary policy in a data-dependent and meeting-by-meeting fashion.

Economists warn the ECB's potential rate hike at its June 2026 meeting risks repeating the 2011 policy mistake that worsened the eurozone debt crisis.

The ECB is expected to raise rates by 25 basis points as higher energy prices drive inflation and raise concerns about broader price pressures.