📝ECB Could Hike The Deposit Rate In July: Goldman Sachs

Recent communication suggests that the Governing Council is placing more weight on the (certain) upside surprises in inflation than the (uncertain) downside risks to growth. Base case sees two 25bps rate hikes in September and December, however, if war price pressures feed into wages, ECB could hike as early as July. For 2023, see rate hikes at March, June, and December meetings reaching 1.25%. - Goldman Sachs Economists