The ECB leaves rates unchanged, deposits at 2.50%

The ECB has left interest rates unchanged: the rate on deposits remains at 2.50%, that on main refinancing at 2.65%, that on marginal loans at 2.90%. The central bank announced this in a note. The decision was widely expected by investors.

“Financing conditions have tightened since the last Governing Council meeting and this is likely to impact inflation and growth,” the ECB warned in a statement after the decision to leave rates unchanged. "Although the energy shock is still showing all its effects, so far underlying inflation has remained essentially stable and wages have not reacted significantly in this phase" underlines the central institute.