The ECB leaves interest rates unchanged at 2.25%

The ECB leaves rates unchanged, as expected, following the quarter-point hike from the June meeting. The deposit rate remains at 2.25%, the main refinancing rate at 2.40%, and the marginal lending rate at 2.65%.

THE PRESS CONFERENCE:

"Uncertainty remains high and the inflationary impact of the energy shock has yet to fully materialise." This is the warning from the ECB in the accompanying statement to its decision to hold rates steady. "The Governing Council is therefore closely monitoring the intensity and duration of the shock, as well as its indirect and second-round effects." With today's decision, the Governing Council remains well-positioned to address the uncertainty caused by the conflict. It will follow a data-driven approach in determining the appropriate monetary policy stance."

Reproduction reserved © Copyright ANSA