Why the ECB Is Unlikely to Keep Rates Higher Than 3% - Goldman Sachs

We harness every resource, insight, relationship, and competitive advantage to drive superior results for our clients. Goldman Sachs’ weekly newsletter, offering economic and markets analysis from across the firm. Subscribe now. We invest the power of Goldman Sachs' financial and intellectual capital to advance enduring economic growth and opportunity. Investors expect the European Central Bank to step up the pace of interest rate hikes amid resilient economic growth and renewed energy inflation pressures. But while Goldman Sachs Research forecasts one more hike in December 2026, our economists think it’s unlikely that the ECB will keep rates well above 3% as currently priced by markets (as of September 18).