(Reuters) - Goldman Sachs (NYSE:GS) on Friday said it now expects the European Central Bank (ECB) to deliver its first interest rate cut in the second quarter of 2024, compared to an earlier forecast of a cut in the third quarter of next year.
The ECB raised its deposit rate to a record high 4% via ten straight moves ending in September and sees inflation inching up in the coming months before coming back to its target in the second half of 2025.