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

Reuters
Bank of France Governor Francois Villeroy de Galhau attends a meeting in Paris

FRANKFURT (Reuters) - 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.

(Reporting by Balazs Koranyi; Editing by Jon Boyle)