Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

ECB Holds Interest Rates Steady for Third Time in Row

Fri 26 Jan 2024 | 02:49 AM
President of the European Central Bank (ECB) Christine Lagarde
President of the European Central Bank (ECB) Christine Lagarde
Taarek Refaat

The European Central Bank (ECB) kept, Thursday, interest rates unchanged for the third time in a row, and this comes at a time when the confrontation in the Middle East region is casting a shadow over the European economy.

According to a statement issued today following the bank’s Board of Directors meeting, the ECB fixed the interest rates on the main financing operations, the marginal lending, and deposits unchanged at 4.5%, 4.75%, and 4%, respectively.

The European Central Bank stressed: “The downward trend in core inflation has continued, and previous increases in interest rates have continued to be transmitted to the economy.”

The bank stressed its intention to push inflation to the target level of 2% in the medium term, indicating that keeping interest rates at their current levels for a sufficient period will contribute significantly to achieving the goal.