The European Central Bank (ECB) decided to maintain the deposit interest rate at a monetary policy meeting yesterday.
ECB President Christine Lagarde stated that resuming interest rate cuts requires confidence that the persistent inflation is under control.
Foreign media outlets, including AP News and the Wall Street Journal, reported that the ECB unanimously decided to maintain the deposit interest rate at 3.75%, followed by the rate cut last June.
Consumer prices in the Eurozone recorded 2.5% last month.
At the press conference after the meeting, Lagarde did not promise an interest rate cut at the monetary policy meeting scheduled for September 12th.
She stated that there are several possibilities that the upcoming data will determine.
The market expects the ECB to cut 0.25%p in September and December.
AP found the ECB’s stance similar to the Federal Reserve’s, where a freeze is expected at the monetary policy meeting at the end of July. Regarding former U.S. President Donald Trump’s announcement of imposing high tariffs on imported goods, Lagarde refused to answer, avoiding speculations on political matters.
AP found the ECB’s stance similar to the Federal Reserve’s, where a freeze is expected at the monetary policy meeting at the end of July.
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