European Central Bank holds rates
Inflation set for return to target in 2025, as Lagarde defends ECB response to staff burnout
The governing council of the European Central Bank (ECB) voted unanimously to maintain its monetary policy stance, president Christine Lagarde said today (July 18).
Domestic inflation remains high, mainly driven by wage growth, which is making up for purchasing power losses of the previous years, Lagarde told a press conference.
The ECB became one of the first major central banks to cut rates when it eased policy by 25 basis points on June 8. Today, the central bank held its key deposit facility
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