The Goldman Sachs Group Inc. predicted in its insight published on Friday that the European Central Bank (ECB) will perform the next cut in its interest rates in October, most likely of 25 basis points.

Previously, the company projected the next reduction would happen in December.

Earlier, HSBC Holdings plc and BNP Paribas made the same prediction. Meanwhile, JPMorgan Chase & Co. said it expects the ECB will decide to cut the rates at every meeting from October.