Goldman Sachs announces European Central Bank monetary policy meeting on July 21

Goldman Sachs (in brief)

  • We expect the Governing Council to raise policy rates by 25 basis points and provide further details on its sovereign support.
  • Although the sharp depreciation of the euro, recent actions by central banks abroad and the possibility of a further rise in inflation expectations according to surveys suggest that a move of 50 basis points is possible, we believe that a quarter-point increase remains likely.
  • Indeed, the Council has moved strongly towards 25 basis points, the growth outlook has weakened and the ECB has historically not offered hikes discounted to less than 70%.

The European Central Bank on Thursday, July 21, 2022

  • the announcement is scheduled for 12:15 GMT (note the new scheduled times)

  • press conference at 12:45 GMT



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