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JPMorgan forecasts ECB rate hike in December
J.P. Morgan Bank expects the European Central Bank to raise interest rates for the third time in December, reaching 2.75%, after a possible increase to 2.5% in late November. Experts point out that the ongoing rise in energy prices, strong economic growth, core inflation, and the neutral interest rate are all driving a tightening of monetary policy, with expectations that gas prices in Europe will remain high throughout the winter. However, there is hope that the policymakers' stance may soften as the Middle East crisis eases, but persistent inflation and the energy crisis are hindering such a shift. It is also noted that the risks of raising interest rates remain, despite market expectations of a fourth hike later on.
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