Davos 2023-ECB rates could peak by summer, Villeroy says

FRANKFURT – European Central Bank interest rates could peak by the summer, French Central Bank Governor Francois Villeroy de Galhau told a panel discussion at the World Economic Forum in Davos.

The ECB‘s 2% deposit rate is almost certain to rise to 2.5% next month and markets see it peaking at around 3.2% by July, a downgrade compared to the 3.5% priced by investors at the start of this month.