The peak of the key interest rate set by the ECB will be much greater than anticipated just one month ago, according to economists polled by Reuters. They believe that persistently high inflation will compel policymakers to take more drastic measures.

ECB President Christine Lagarde declared on Sunday that a rate increase of 50 basis points is « very, very likely » after hinting at it during a previous meeting.

The deposit rate will increase by 50 basis points to 3.00, according to all 60 analysts surveyed by Reuters from March 7 to 9.

source: reuters.com