off-the-wire

Citigroup expects ECB to take deposit rate to 4% by July this year

Kitco Media
By Reuters
Published:
Updated:
Reuters

March 7 (Reuters) - Citigroup expects the European Central Bank to hike rates by 50 basis points each in March and May to push its policy rates to about 4% by July.

Economists led by Arnaud Marès said this course of action by the ECB will more likely result in overtightening of rates to tame record high inflation.

Reporting by Aniruddha Ghosh in Bengaluru; Editing by Subhranshu Sahu
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