Goldman Sachs has revised its outlook for the European Central Bank,
- it now expects a rate cut from the Bank in the second quarter of next year
- GS had been previously forecasting a Q3 ECB rate cut
The ECB depo rate is currently 4.0%, the first cut is expected to take it back to 3.75%
The Bank kicked off its current rate hike cycle in July 2022, and followed up with another 9 rate hikes. Its final hike (so far at least!) was in September 2023.
