The US Fed is expected to pause, and Europe’s central bank will lift its deposit rate, in key meetings this week.
sustained their tightening cycles with interest rate increases to tame stubborn inflation, stoking worries that the Fed might follow suit and take a hawkish stance at its June decider.
Bank of America anticipates the Fed to forecast a further one quarter of a percentage point increase by year-end in its policy profile, for a terminal rate of between 5.25 per cent and 5.5 per cent. Also on Thursday, the European Central Bank is expected to lift its deposit rate a quarter of a percentage point to 3.5 per cent.“The eurozone is now in a technical recession,” said Chris Tennent-Brown, a senior economist at ASB Bank. “However the labour market is still tight and inflation is too strong. We expect the ECB to maintain its hawkish tilt until core inflation is on a clear downward trend.
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