The Governing Council of the European Central Bank (ECB) decided to keep its three key interest rates unchanged at its monetary policy meeting. The rates on the main refinancing operations, the marginal lending facility, and the deposit facility remain at their current levels.
The ECB said the incoming information broadly supports its previous assessment of the medium-term inflation outlook. Underlying inflation has eased, and past rate increases continue to transmit to financing conditions, while the economy remains weak.
The Governing Council is determined to ensure that inflation returns to its 2% medium-term target in a timely manner. It will continue to follow a data-dependent approach, with policy rates set at sufficiently restrictive levels for as long as necessary.
The next monetary policy meeting is scheduled for September, where the Council will assess the latest economic and financial data.
Source: European Central Bank
