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Goldman Sachs expects two ECB rate hikes -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Goldman Sachs logo can be seen on the New York Stock Exchange floor in New York City (USA), July 13, 2021. REUTERS/Brendan McDermid/File Photo

LONDON, (Reuters) – Goldman Sachs (NYSE 🙂 believes that the European Central Bank will raise interest rates 25 bps in September and December. This is after European Central Bank policymakers acknowledged rising inflation risk at a Thursday policy review.

According to a Friday report, Goldman Sachs strategists anticipate that policymakers will decide to stop its asset purchases program in June and increase its deposit rates by 25bps in September and December.

“Following large upside inflation surprises and yesterday’s hawkish policy pivot, we now look for a substantially earlier ECB exit,” strategists at the U.S. investment bank said in a note and revised its inflation forecasts higher.

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