Central Banks
ECB Holds Rates Steady With More Data Needed for Next Cut
- Deposit rate left at 3.75% on Thursday, as economists expected
- Focus is now on possible move at next meeting in September
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The European Central Bank left interest rates unchanged after last month’s landmark cut — giving away little on its plans as investors and economists bet on another move in September.
The deposit rate was kept at 3.75% on Thursday — as all 55 economists in a Bloomberg survey predicted. The ECB reiterated that borrowing costs will remain “sufficiently restrictive for as long as necessary” to ensure inflation returns to 2%.