ECB Holds Rates at 1%

As expected, the European Central Bank (ECB) upheld the current 1% benchmark lending rate. This marks the 10th straight month that the ECB has maintained the record low rate. As many EU governments face the prospect of spending cuts to bring budgets back in line with EU requirements, inflation becomes less of a concern, making it less likely that the ECB will feel the pressure to increase the lending rate.

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.