ECB Likely to Raise Rates Once More Before Cutting, Says Commerzbank

Commerzbank analysts note that ECB officials continue to signal at least one additional rate increase, even as energy costs have moderated. The bank forecasts a final hike in the current tightening cycle before the central bank eventually pivots to cuts.

The assessment comes as markets weigh the path of eurozone inflation against ongoing economic headwinds. Commerzbank's view aligns with the ECB's stated intention to bring inflation sustainably back to target, though the exact timing and magnitude of future moves remain data-dependent.