ECB to raise interest rates by another 3 yards next week, Reuters poll shows (European News Agency)

[Financial Channel/Comprehensive Report] The inflation rate in September has soared to 10%, 5 times the target inflation of 2%. In order to control inflation, a Reuters survey shows that the European Central Bank (ECB) will be held next Thursday (27th) Raise 3 yards.

In a Reuters poll of more than 60 economists from October 12 to 18, the vast majority of respondents believed that the euro zone central bank will raise the deposit rate to 1.50% next Thursday and the refinancing rate to 2.00%.

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Three-quarters of respondents (27 out of 36) said banks should choose to increase deposit rates by 75 basis points, while two said they should go more aggressively, raising 100 basis points, and only seven suggested 50 basis point.

The ECB didn't raise rates for the first time until July, when it raised all rates by 50 basis points, cutting the deposit rate to zero, not in negative territory for the first time since 2014, followed by a further 75 increase in September basis point.

The euro fell below parity against the dollar as the European Central Bank raised interest rates at a slower pace than peers such as the Federal Reserve.

Deposit and refinancing rates are expected to be 2.00% and 2.50%, respectively, by year-end, compared with 1.25% and 2.00% forecast by the September poll.

Deposit rates are expected to peak at 2.50% next year, and refinancing rates at 3.00%, up from the highs of 1.50% and 2.00% given in September; the highest forecast is 4.00% and 4.50%, respectively.

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