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On November 18, Mitsubishi UFJ said that the European Central Bank rate cuts may be slower than the market expects, the market's expectations of rate cuts are a little “too high”. The agency said the European Central Bank slow response to the slowdown in economic growth, and pointed out that when the European Central Bank in 2022 to 2023, when the rate hike, it did not give too much attention to weak economic growth. Mitsubishi UFJ believes the same could happen in 2025 if inflation rises (citing Trump's trade policies and the EU's retaliation in response). In addition, Mitsubishi UFJ says the euro's decline since the U.S. election has been a bit overdone and expects prospects for improvement going forward.

According to the CME “Fed Watch”: the probability that the Fed will keep current rates unchanged until December is 38.1%, the probability of a cumulative 25 basis points of interest rate cuts is 61.9%. The probability of keeping current rates unchanged by January next year is 25.9%, the probability of a cumulative rate cut of 25 basis points is 54.3%, and the probability of a cumulative rate cut of 50 basis points is 19.8%.