About three-quarters of economists polled by Reuters forecast another 25 basis point rate hike by the European Central Bank in July
The European Central Bank will hike its key interest rates by 25 basis points on June 15 and again in July before pausing for the rest of the year as inflation remains sticky, according to a clear majority of economists polled by Reuters.economic activity in the 20-member bloc
The central bank is forecast to raise its deposit rate again by a quarter percentage point on June 15 to 3.50 per cent, according to all 59 economists polled in the latest Reuters survey. “A 25 basis point rate hike looks like a done deal for next week’s meeting,” said Carsten Brzeski, global head of macro at ING.
But a significant minority saw at least one more rate hike from the Fed, more likely in July than June, which some say may give ECB policymakers further incentive to also raise rates in July to maintain the euro’s strength.A majority, 38 of 59, then predicted the ECB’s deposit rate to remain unchanged at 3.75 per cent until the end of 2023. While 17 had it at 3.50 per cent or lower by year-end, four had it higher at 4.00 per cent.Euro zone inflation was last reported at 6.
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