Daily Management Review

ECB keeps benchmark interest rate unchanged


As expected, the ECB maintained the benchmark interest rate at 4.5% annually.

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According to a statement from the watchdog, the European Central Bank (ECB) maintained the benchmark interest rate at 4.5% per year during its meeting on Thursday. This rate is still historically high.

The regulator's choice was in line with expectations of analysts surveyed by DailyFX.

"The interest rate on the main refinancing operations as well as the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 4.50 per cent, 4.75 per cent and 4.00 per cent respectively," reads the statement.

Furthermore, the European Central Bank (ECB) reduced its September forecast for eurozone GDP growth to 0.7% from 0.6% this year.

Additionally, the prediction for 2024 was lowered from the initial 1% to 0.8%.

The European Central Bank (ECB) projects that the GDP of the eurozone will grow by 1.5% in 2025.

source: dailyfx.com