ECB pauses interest rate hikes,
Photo: Michael Probst/AP/TT

ECB pauses interest rate hikes, leaves deposit rate unchanged at 2.25%

The European Central Bank (ECB) is taking a break from interest rate hikes and leaving its key interest rates unchanged. The important so-called deposit rate will remain at 2.25 percent.

Advertisement

The announcement was in line with expectations, according to Bloomberg.

According to the ECB, more statistics are needed to determine whether the upward pressure on energy prices as a result of the war in Iran justifies further monetary policy tightening.

The ECB raised interest rates in June and is expected to raise them again in September, according to the average forecast among analysts. Another interest rate hike from the ECB is then expected before the end of the year, according to market pricing.

"Uncertainty remains high," the ECB states in the interest rate announcement.

The interest rate announcement did not give rise to any major market reactions, either in the currency or fixed-income markets.

In this story
AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
Was this useful?

What do you think?

Keep readingmore from Business

All