ECB's Historic Decision to Maintain Support for the EUR - Goldman Sachs

According to Goldman Sachs strategists, hawkish ECB forecasts would likely keep the single currency maintained over the upcoming weeks. Important Quotes

June 28, 2022 - 12:15 PM 254 views

ECB's Historic Decision to Maintain Support for the EUR - Goldman Sachs

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© ECB's Historic Decision to Maintain Support for the EUR - Goldman Sachs

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According to Goldman Sachs strategists, hawkish ECB forecasts would likely keep the single currency maintained over the upcoming weeks.

Important Quotes

"For the second half of the year, our analysts predict below-consensus growth, and we believe there are still considerable downside risks from additional gas outages, which hastens the likelihood of a near-term recession to about 40%.

"Nevertheless, given that the ECB is about to make such a significant policy change—ending its eight-year period of zero interest rates—we find it difficult to be overtly bearish on the Euro. The Sintra summit this week will probably contribute to stabilizing expectations for an impending end to negative rates and a substantial anti-fragmentation "backstop."

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