Goldman Sachs on the Fed vs. the ECB. Fed done hiking. One more to come from the ECB.

<p>Goldman Sachs comments on the Federal Reserve vs. the European Central Bank.</p><p align="left">
This
summary is via the folks at eFX.
</p><p align="left">
For
bank trade ideas, <a href="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" target="_blank">check
out eFX Plus</a>.
For a limited time, get a 7 day free trial, basic for $79 per month
and premium at $109 per month. <a href="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" target="_blank">Get
it here</a>.

</p><p>Goldman Sachs anticipates the Fed's hiking cycle to be complete, while one final hike from the ECB is in the forecast. </p><p>
Key Points: </p><ul><li>Fed's Stance: Goldman believes that the Fed has wrapped up its cycle of rate hikes, with the intention of maintaining the current Fed funds rate range of 5.25-5.5% till 2024. The first rate reduction is anticipated in the second quarter of 2024, which is expected to proceed at a pace of 25bp per quarter. The projected stabilization for the Fed funds rate range is between 3-3.25%. </li><li>ECB's Next Moves: For the European Central Bank, Goldman forecasts a final rate hike of 25 basis points in September, leading to a terminal rate of 4.00%. This expectation is grounded in the persistent services inflation observed in Europe. Post this hike, the ECB is predicted to stay on hold until the fourth quarter of 2024.</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.