[Institution: ECB Deposit Rate May Reach 3% by Mid-2029] Jin10 Data, June 22 – Berenberg Bank analyst Holger Schmieding stated in a report that the European Central Bank's deposit rate is expected to reach 3% by mid-2029 (current rate is 2.25%). The institution had previously predicted this level would be reached in 2028. With the temporary U.S.-Iran agreement lowering energy costs, the overall inflation rate in the Eurozone may drop below 2% by early 2027. This suggests the ECB might delay rate hikes until late 2028. Schmieding noted that by then, Europe's aging population is expected to begin reducing labor supply faster than demand, thereby driving up wages and forcing the central bank to raise rates.