They are forecasting Eurozone GDP growth to slow to 0.5% in Q3 before contracting by 0.5% in both Q4 this year and Q1 next year. As for their ECB outlook, they say that:
„We expect the ECB to deliver another 50 bps of hikes by year-end. We now expect 25 bps in September and 25 bps in October.“
The firm previously called for 75 bps more worth of rate hikes by the ECB with a 25 bps rate hike penciled for December.
This article was written by Justin Low at www.forexlive.com.
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