The European Central Bank will raise its deposit rate at least twice more, taking the terminal rate to 3.25% in the second quarter, with a vast majority of economists polled by Reuters saying the greater risk is it goes even higher
In response to an additional question, an overwhelming majority - 26 of 28 - said the risk was the terminal deposit rate ends higher than they expect, rather than lower.
As well as raising the deposit rate by 50 basis points, the ECB will do the same with the refinancing rate next month, taking it from 3.00% to 3.50%, the poll showed. Pierre Wunsch, head of the National Bank of Belgium and a member of the ECB Governing Council, said earlier this month that rate hikes could exceed market expectations. Markets are currently pricing in a terminal deposit rate of 3.50%.in the 20 countries using the euro fell to an annual rate of 8.5% last month from 9.2% in December, official data showed. While the poll suggested it would continue to fall, it was not expected to reach the ECB's 2.0% target until 2025 at least.
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