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Citigroup Predicts ECB Deposit Rate Increase

Citigroup, a global bank, predicts that the European Central Bank (ECB) will increase its deposit rates by 50 basis points in March and May this year. This move is expected to increase policy rates by around 4% by July.

Citigroup building
Citigroup building

ECB's Rate Hike to Tame High Inflation

Economists at Citigroup, led by Arnaud Marès, believe that the ECB's actions will lead to overtightening rates, which will help control record-high inflation.