More from de Guindos: Do not believe anyone who names a terminal rate

Some sage advice from ECBs deGuindos:

• Don't believe anybody who names a terminal rate
• Markets can be wrong about terminal rates

Who not to believe:

• UBS sees a terminal rate of 3.75%
• Societe Generale anticipates a 4% terminal rate
• Goldman Sachs Goldman Sachs Goldman Sachs is a multinational investment bank and financial services company headquartered in New York City. It was founded in 1869 and is one of the largest and most well-known investment banks in the world.Goldman Sachs has a mixed reputation. On one hand, it is known for its expertise in investment banking and its role in many high-profile financial deals. On the other hand, it has faced criticism and controversy over the years, including accusations of unethical business practices and con Goldman Sachs is a multinational investment bank and financial services company headquartered in New York City. It was founded in 1869 and is one of the largest and most well-known investment banks in the world.Goldman Sachs has a mixed reputation. On one hand, it is known for its expertise in investment banking and its role in many high-profile financial deals. On the other hand, it has faced criticism and controversy over the years, including accusations of unethical business practices and con Read this Term and Bank of America predicts a 3.75% peak

The September ECB euro short-term rate contract projects a terminal rate of around 3.62%.

Last week, the European Central Bank European Central Bank The European Central Bank (ECB) represents the central banking entity in the Eurozone that oversees monetary policy for the bloc. As a growing geographic and economic region, the eurozone now includes 19 countries, which rely on the euro as their national currency.The eurozone presently consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.In terms of monetary The European Central Bank (ECB) represents the central banking entity in the Eurozone that oversees monetary policy for the bloc. As a growing geographic and economic region, the eurozone now includes 19 countries, which rely on the euro as their national currency.The eurozone presently consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.In terms of monetary Read this Term (ECB) slowed its interest rate increases, raising its main deposit rate by 25 basis points to 3.25%. However, the bank signaled further tightening to combat inflation. Despite a barely growing euro zone economy and banks reducing credit, high inflation rates persist. ECB President Christine Lagarde emphasized that more ground must be covered, and interest rates are not yet "sufficiently restrictive." Some policymakers anticipate two or three more hikes. The ECB's decision followed the U.S. Federal Reserve's similar rate increase, but Lagarde dismissed the notion of being dependent on the Fed's actions. Markets now expect the ECB's peak rate to be around 3.65%.