The ECB left all three key rates at the same level – Kommersant

The European Central Bank (ECB) left all three key interest rates unchanged, it said press service regulator The base rate on loans is 4.5%, on margin loans – 4.75%, on deposits – 4%.

The ECB said that the downward trend in core inflation continues. Previous increases in interest rates continue to reduce demand, which leads to a decrease in inflation, the regulator noted. The ECB’s Governing Council intends to achieve its inflation target of 2%, according to a press release.

The ECB has not changed interest rates since September. Moreover, since July 2022, the regulator has raised rates at ten consecutive meetings. According to the forecast of the European Central Bank, in 2023 inflation in the eurozone will average 5.4%, in 2024 – 2.7%. The ECB believes that the growth rate of the EU economy will increase from 0.6% in 2023 to 0.8% in 2024.

Read more about the economic indicators of the eurozone in 2023 in the Kommersant article “Between recession and recovery”.

Erdni Kagaltynov