BENGALURU, Sept 19 Reuters The European Central Bank is done hiking interest rates and will stay on hold until at least July next year, according to economists in a Reuters poll, who said there was only a oneinfive chance the central bank hikes again this year.

Last week, the ECB raised its key interest rates for a 10th consecutive time, taking the deposit rate to a record high of 4.00 from a historic low of minus 0.50 in just over a year.

That decision came just days after Reuters reported the central bank would upgrade its 2024 inflation forecast, flipping expectations in favour of a hike from no move.

Although the ECB upgraded its 2024 inflation outlook to 3.2 from June39;s 3.0 prediction, the Governing Council signalled an end to its most aggressive hiking cycle on record, given the anaemic economic growth in the euro zone.

All 70 economists in a Sept. 1518 Reuters poll said policymakers were done hiking and the deposit rate would end the year at 4.00.

It will probably be some time before the ECB will describe it as such, but 4.00 is likely to be the terminal rate, in our view, said Mark Wall, chief economist at Deutsche Bank.

President Christine Lagarde apparently did not want to say rates have peaked… However, the hurdle to a further hike does feel relatively high.

The probability of at least one more hike this year is 20, according to the median of 32 respondents. Responses ranged from 5 to 35.

Interest rate futures are pricing a roughly 25 chance of…