ECB Inclined to Keep Rates Unchanged Barring Economic Shock

European Central Bank policymakers are convinced that no further interest-rate cuts are needed to deliver 2% inflation, despite new economic projections pointing to an undershoot over the next two years, according to people familiar with their thinking.

Unless the euro zone experiences another major shock, borrowing costs are set to stay where they are for some time, said the people, asking not to be identified speaking about confidential discussions.