The European Central Bank keeps interest rates at 2% because inflation is stable
The European Central Bank (ECB) has kept interest rates on bank deposits in the euro area at 2% because inflation is stable.
The ECB's Governing Council has met in Florence, Italy, and, according to a statement released in Frankfurt, "the economy has continued to grow despite the difficult international situation."
The European Central Bank has also maintained interest rates on major financing operations, weekly auctions at 2.15% and one-day loans at 2.40%.
The European Central Bank added that the eurozone economy remains resilient due to "the strength of the labour market, the strength of private sector balance sheets, and previous interest-rate cuts."
However, according to the European Central Bank, 'the future is still uncertain, especially due to international trade conflicts and geopolitical tensions'.
The European Central Bank wants to ensure that inflation stabilises at the medium-term target of 2%, and has reiterated that it will make interest-rate decisions at each meeting on the basis of economic data.
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