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Focus on central banks: will ECB create havoc in Europe in 2023?

The ECB is expected to continue raising rates, although the terminal rate will likely stop at half the Fed's rate.

ECB to continue with rate hikes, but recession seems imminent

At its meeting in December, the European Central Bank increased all policy interest rates by 50 basis points, raising the deposit facility rate to 2%, in accordance with market estimates and general consensus.

Additionally, the central bank disclosed that it would stop reinvesting 15 billion € in monthly bond proceeds as part of its Asset Purchase Program in March, which is also in line with forecasts.

Another interesting topic: FX outlook for 2023: where are the main currency pairs heading?

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