The European Central Bank decided to keep zero interest rates unchanged in its meeting moments ago, as the markets had expected.
The bank’s statement stated that inflation rates represent a major challenge for the bank, and the bank must do everything in its power to return inflation to its 2% target.
Inflation pressures have risen due to the impact of the Russian-Ukrainian war and the rise in energy and food prices and many commodity prices. The members of the Bank expect inflation to decrease to 3.5% next year and to 2.1% in the year 2024.
The bank also lowered its growth forecast, as it expects the gross domestic product to grow by about 2.8% this year and 2.1% next year.
The Bank decided to end the APP asset purchases as of July 1 and start raising interest rates by 25 basis points in July and raising them again in September as the interest rate increase depends on inflation expectations.e
02/11/2024
ابحاث السوق
شارك المقال على منصات التواصل الإجتماعي
