ECB holds key interest rates unchanged at 2.50%/2.65%/2.90%

The Governing Council kept the deposit, main refinancing operations, and marginal lending facility rates unchanged at 2.50%, 2.65%, and 2.90% respectively, citing continued energy price increases and underlying inflation stability. Financing conditions have tightened since the last meeting.

Why it matters. Euro area borrowing costs remain at elevated levels, affecting government, corporate and consumer credit conditions across the 20-member currency bloc during a period of elevated energy price uncertainty.