The ECB has no room to cut rates again next year – Commerzbank

The ECB did not raise its key interest rates further at its meeting today. The deposit rate should remain at 4.0% next year, in the view of economists at Commerzbank.

No rate cuts in 2024

At today's press conference, the ECB again signaled that it will probably not raise its key interest rates further. However, we do not share the market's view that the ECB will lower its rates significantly again as early as next year. 

Rate cuts would be risky anyway because the deposit rate of 4.0% is not very high in view of the underlying inflation problem.