The European Central Bank keeps rates on hold

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  • The European Central Bank keeps rates on hold

The European Central Bank (ECB) announced on Thursday that it will keep key interest rates unchanged at its latest rate-setting meeting. The deposit facility rate, through which the central bank steers the monetary policy stance, remains unchanged at two percent. Inflation in the euro area inched up to two percent in June from 1.9 percent in May, according to data released by the statistical office of the European Union.

The ECB said in a statement that domestic price pressures continue to ease and wages grow at a slower pace. As inflation in the euro area hovers around the targeted level of two percent, the ECB reaffirmed that it is determined to make sure the inflation stabilizes in the medium term.

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