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Economy Tue 07, 2023 01:40AM ET
© Reuters. FILE PHOTO: The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. Picture taken October 19, 2017. REUTERS/Chris Helgren/File Photo
(Reuters) – Citigroup (NYSE:C) expects the European Central Bank to hike rates by 50 basis points each in March and May to push its policy rates to about 4% by July.
Economists led by Arnaud Marès said this course of action by the ECB will more likely result in overtightening of rates to tame record high inflation.
Citigroup expects ECB to take deposit rate to 4% by July this year
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