ECB keeps interest rates unchanged as widely expected. The main refinancing, marginal lending and deposit rates are held at 4.50%, 4.75%, and 4.00% respectively.
The central bank maintains that key interest are “at levels that, maintained for a sufficiently long duration, will make a substantial contribution to this goal.”
Future decisions will ensure the policy rates are set at sufficiently restrictive levels for “as long as necessary”.
Nevertheless, ECB still “stands ready” to adjust all of its instruments.
