ECB shouldn't be expected to match Fed hikes, Visco says
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FILE PHOTO: Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. REUTERS/Wolfgang Rattay
FRANKFURT (Reuters) - The European Central Bank shouldn't be expected to match the Federal Reserve's interest rate hikes, ECB policymaker Ignazio Visco said on Thursday, backing market expectations for lower borrowing costs than in the United States.
"I don't think that we should expect really to react (in) the way the Fed has done," the Bank of Italy's governor told an event at the OMFIF's think-tank.
He also said market expectations for the ECB's deposit rate to peak at 3% next year were "in the range" once that rate was corrected for the inflation premium, putting it "a little bit below that".
(Reporting By Francesco Canepa; editing by John Stonestreet)
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