Macro - Weekly Briefings - Eurozone
The ECB hiked interest rates by 50bps at its meeting yesterday and announced the start of quantitative tightening from March. Moreover, the ECB sent a very hawkish message by indicating there will be further rates hikes of similar magnitude in the future. We will revise our ECB call ahead of the full update of our forecasts at the start of 2023, with a terminal rate of 3% for the deposit rate, 75bps above our previous call.
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