Global Markets Mixed Ahead of Key Central Bank Policy Decisions: December 15, 2025

This analysis is based on the Wall Street Journal report [1] published on December 15, 2025, highlighting mixed global market performance ahead of a significant week of central bank policy decisions.

European markets (STOXX50E +0.47%, FTSE 100 +0.74%) opened positively [0], reflecting investor optimism tied to expected European Central Bank (ECB) growth forecast revisions and Bank of England (BOE) rate cut expectations. The BOE is anticipated to cut rates by 25 basis points to 3.75% (85% probability priced in) amid easing inflation [3], while the ECB is expected to maintain rates at 2% [2].

In contrast, Asian markets (Nikkei 225 -0.30%, Hang Seng -0.35%) declined [0], likely due to concerns about a Bank of Japan (BOJ) rate hike to 0.75% scheduled for Friday [4] and ongoing economic headwinds in the region. U.S. futures showed modest gains (Dow +0.29%, S&P 500 +0.22%, Nasdaq 100 +0.16%) as investors looked past recent tech sector selloffs [6].

• Investor positioning ahead of central bank decisions is the primary driver of mixed market performance across regions.
• European markets are responding positively to expected accommodative policy from the BOE and growth optimism from the ECB, while Asian markets face headwinds from BOJ tightening concerns.
• U.S. markets are showing cautious optimism despite recent tech sector volatility, with investor focus also on upcoming November CPI data [3], which will influence Federal Reserve policy expectations.

• Central bank policy surprises
  : Unanticipated rate decisions or hawkish/dovish guidance from any of the major central banks (ECB, BOE, BOJ, Fed) could trigger significant market volatility [5].
• U.S. inflation data
  : Higher-than-expected CPI figures may delay Fed rate cut expectations, potentially negatively impacting equity markets [3].
• Global economic headwinds
  : Ongoing deflationary pressures in China and geopolitical tensions remain underlying risks [4].
• Opportunity windows
  : Clear, market-friendly policy guidance could boost investor sentiment, particularly in regions positioned for accommodative policies.

• Market performance (December 15, 2025)
  :
  • Europe: STOXX50E +0.47%, FTSE 100 +0.74% [0]
  • Asia: Nikkei 225 -0.30%, Hang Seng -0.35% [0]
  • U.S. futures: Dow +0.29%, S&P 500 +0.22%, Nasdaq 100 +0.16% [6]
• Upcoming events
  :
  • ECB meeting (Thursday): Expected to keep rates at 2% with growth forecast revisions [2]
  • BOE meeting (Thursday): 85% probability of 25bps rate cut to 3.75% [3]
  • BOJ meeting (Friday): Expected to hike rates to 0.75% [4]
  • U.S. November CPI data: Release this week, will influence Fed policy [3]