The European Central Bank keeps interest rates at 2.5% despite rising inflation
The European institution has decided to keep rates at their highest level in three years, at 3.8%. The ECB's decision follows the interest-rate hike in September and June.
TheEuropean Central Bank(ECB) decided on Thursday to keep interest rates on bank deposits in the euro area at 2.5%, when inflation has reached its highest level in three years, at 3.8%, and to keep the rate of major refinancing operations at 2.65% and the marginal credit facility rate at 2.90%.
This being the case, the European Central Bank has broken down following the interest-rate hikes last September and June .
"Energy prices have continued to rise, leading to higher inflation forecasts and lower growth forecasts," the ECB admitted in a statement.
On the other hand, the President of the European Central Bank, Christine Lagarde, will leave office eight months before the end of her term, as she announced this morning.
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