Bloomberg News

Goldman Sachs’s Pill Sees no Change in ECB Deposit Rate, BZ Says

July 05, 2012

Goldman Sachs Group Inc. (GS:US)’s European Chief Economist Huw Pill predicts the European Central Bank will leave its deposit rate unchanged at 0.25 percent, while cutting its benchmark rate to 0.75 percent, Boersenzeitung reported.

The ECB shouldn’t increase purchases of euro-area peripheral sovereign debt as the central bank can’t keep yields low forever, Pill told the German newspaper in an interview. Countries like Italy need to implement reforms to regain trust, Pill was cited as saying.

To contact the reporter on this story: Annette Weisbach in Frankfurt at aweisbach1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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