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The European Central Bank is widely expected to raise interest rates again on September 10, taking its deposit rate to 2.50%. The decision itself is hardly controversial: all 65 economists surveyed by Reuters between August 31 and September 3 predicted a 25-basis-point increase.
The European Central Bank is widely expected to hike interest rates on Thursday, erring on the side of caution as the U.S.-Iran wardrags on, keeping oil prices high and raising inflation again.
Focus in the coming week will center firmly on U.S. inflation data as investors gauge whether the Federal Reserve could raise interest rates in the coming months, and possibly as early as this month.
Economists think the European Central Bank will raise interest rates next week but not beyond that. The majority of respondents in a Bloomberg survey expect the deposit rate to be raised by a quarter-point to 2.5% on Thursday and stay there through 2027.
The spike in euro zone inflation since the start of the war in Iran has almost entirely been driven by higher energy prices, justifying the European Central Bank's small increase in interest rates in June, new ECB research showed on Tuesday.
European Central Bank board member Isabel Schnabel said interest rates must rise further as the conflict in the Middle East drags on and strong euro-zone economy pose upside risks to inflation, in an interview to Bloomberg News published on Wednesday.
Cetera Investment Advisers trimmed its holdings in iShares MSCI Italy ETF (NYSEARCA:EWI) by 62.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,808 shares of the exchange traded fund's stock after selling 8,071 shares during the quarter. Cetera Investment Advisers'
Goldman Sachs analysts recently raised their 12-month target for the European benchmark STOXX 600 index to 695 from 660. Foreign inflows have helped drive the strongest inflows into European equities in a decade, not counting 2021, the bank wrote.