Helena Lyng Blak
11 weeks ago

European Central Bank holds rates

Interest rates remain unchanged and other key decisions from ECB’s Governing Council.
President of European Central Bank Christine Lagarde.
Alexandros Michailidis, Shutterstock.

On Thursday the European Central Bank (ECB) outlined several monetary policy decisions. Here are some of the main points: 

Interest rates unchanged
The ECB's Governing Council decided to keep its three key interest rates steady. The rates include on main refinancing operations, the marginal lending facility, and the deposit facility, will stay at 4.5%, 4.75%, and 4% respectively.

Adjusted inflation projections
Inflation forecasts have been revised down. This adjustment is primarily due to lower energy prices contributing less to inflation. Inflation is now expected to average 2.3% in 2024, 2% in 2025, and 1.9% in 2026.

Adjusted inflation projections, excluding food and energy
ECB furthermore revised down inflation excluding energy and food to average 2.6% for 2024, 2.1% for 2025, and 2% for 2026.

Adjusted growth projections
Growth forecasts have been revised down to 0.6% for 2024. In 2025 and 2026, however, economic growth is expected to revitalize some with projections of 1.5% and 1.6%, respectively.

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