UniCredit CEO expects ECB to take ‘balanced approach’ on rate hikes

FILE PHOTO: Illustration shows Unicredit logo

MILAN (Reuters) – The head of Italy’s UniCredit expects the European Central Bank (ECB) to take a ‘balanced approach’ on interest rate hikes, acting on the basis of economic data as they become available given the high level of uncertainty.

“I believe that in the end the (European) Central Bank will take a balanced approach, probably raising rates by more than what ‘doves’ would like, but by less than what ‘hawks’ would,” CEO Andrea Orcel was quoted as saying by Il Messaggero daily on Thursday.

Orcel added he expected the ECB’s deposit rate could peak in the summer.

(Reporting by Federico Maccioni, editing by Valentina Za)

Related posts

Spirit Christmas expands New Jersey holiday pop-ups with new 2025 locations including Toms River

Flight attendant age discrimination suit moves forward in New Jersey court against United Airlines

Judge tosses inmate’s civil rights suit against Gov. Murphy over confinement claims