The ECB left all three key rates unchanged – Kommersant
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The European Central Bank decided to keep all three key interest rates at the same level. The base rate on loans is 4.5%, on margin loans – 4.75%, on deposits – 4%, she recalled press service ECB.
The regulator noted that, despite the decline in inflation in the eurozone, it will rise again in the near future. The ECB expects inflation to average 5.4% in 2023, 2.7% in 2024, 2.1% in 2025, and 1.9% in 2026. The target medium-term inflation rate for the regulator is 2%.
The ECB believes that the growth rate of the EU economy will increase from 0.6% in 2023 to 0.8% in 2024 and to 1.5% in 2025 and 2026.
The ECB has not changed interest rates since September. Moreover, since July 2022, the regulator has raised rates at ten consecutive meetings. The long-term effects of the regulator’s tight monetary policy were reflected in the dynamics of the eurozone’s GDP: after two quarters of subdued growth, the figure decreased by 0.1% in the third.
Why the US Federal Reserve may have completed the rate hike cycle – in Kommersant’s material “Prepare your sleigh for summer”.
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