Research Detail
| 2023/07/21 / Erste Group Research |
Where are interest rates going? Next week, the Governing Council of the ECB will meet. With ECB President Lagarde's defacto determination following the last meeting in June, there is little doubt that key interest rates will be raised by another 25bp. The focus of the markets will thus turn to Lagarde's press conference and whether there are any indications of what will happen in September. The outcome of the interest rate decision in the US next week is somewhat more uncertain than for the Eurozone. However, another 25bp rate hike is very likely there as well. The main argument for this is the June survey of meeting participants at the FOMC, the interest rate decision-making body of the US Fed. Fiinally, the flash estimate of the Eurozone Purchasing Managers' Indices for July will be published. We expect a further deterioration in industrial sentiment. There should also be a further cooling of sentiment among service providers, as the catch-up situation has calmed down again after the end of the pandemic. |
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General information
| Author | Erste Group Research |
| Date | 2023/07/21 |
| Language |  |
| Product name | Week ahead |
| Topic in focus | Macro/ Fixed income |
| Economy in focus | Eurozone, United States |
| Currency in focus | Euro, US Dollar |
| Sector in focus | - |
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