European Central Bank announces interest rate decision!
The European Central Bank (ECB) has kept its deposit rate at 4.00 percent, in line with expectations.
According to the statement released by the European Central Bank (ECB), it was noted that the Bank decided to keep its 3 key policy rates unchanged, maintaining the refinancing rate at 4.5 percent, the deposit rate at 4 percent, and the marginal lending rate at 4.75 percent.
Officials, who point to June as the earliest turning point for the start of monetary easing, are seeking assurance in the meantime that inflation will decline to 2 percent. Analysts predict that there is a 64 percent probability that the ECB could begin its first interest rate cut in April.
On the other hand, ECB Chief Economist Philip Lane stated that "important" data regarding wage agreements would only be available at the June meeting and that readjusting interest rates too quickly could be "self-defeating."
News Source: 12punto
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