The ECB raised interest rates to recent record highs earlier this year, but unexpectedly benign inflation data over the past few months has all but ruled out further increases.
The European Central Bank (ECB) left interest rates untouched for the second time in a row on Thursday.
“The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 4.50%, 4.75% and 4.00% respectively,” read a statement released by the bank Thursday.
It follows after the Bank of England on Thursday held its key interest rate at 5.25% and the US central bank had also frozen borrowing costs on Wednesday.
The ECB also revised its inflation projections and expects to reach its 2% target in approximately two years.
Despite inflation in the eurozone slowing to a two-year low of 2.4% in November after peaking at around 10% last year, the ECB warned against overoptimism, saying it may rise again temporarily in the near term.
No, we should absolutely not lower our guard," bank President Christine Lagarde said at a news conference.
The original article contains 241 words, the summary contains 152 words. Saved 37%. I’m a bot and I’m open source!
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The European Central Bank (ECB) left interest rates untouched for the second time in a row on Thursday.
“The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 4.50%, 4.75% and 4.00% respectively,” read a statement released by the bank Thursday.
It follows after the Bank of England on Thursday held its key interest rate at 5.25% and the US central bank had also frozen borrowing costs on Wednesday.
The ECB also revised its inflation projections and expects to reach its 2% target in approximately two years.
Despite inflation in the eurozone slowing to a two-year low of 2.4% in November after peaking at around 10% last year, the ECB warned against overoptimism, saying it may rise again temporarily in the near term.
No, we should absolutely not lower our guard," bank President Christine Lagarde said at a news conference.
The original article contains 241 words, the summary contains 152 words. Saved 37%. I’m a bot and I’m open source!