The ECB leaves charges unchanged at 2%, as anticipated | EUROtoday

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The European Central Bank, at its assembly in Florence, left the deposit charge unchanged at 2 p.c. The charge on fundamental refinancing stays at 2.15%, that on marginal loans at 2.40%. This was communicated by the ECB, which is sustaining charges on the 2% reached final June, after having diminished them by two share factors with eight cuts in a 12 months.

Inflation – it’s underlined – stays near the medium-term goal of two% and the evaluation of the inflation prospects carried out by the Governing Council stays just about unchanged. The Governing Council acknowledges that “the economy has continued to grow despite the challenging global environment” with “the strength of the labor market, the strength of private sector balance sheets and past interest rate cuts decided by the Governing Council” “remaining important factors underpinning the resilience of the economy”.

“However – concludes the note – the prospects are still uncertain, especially due to the current trade disputes and geopolitical tensions at a global level”. For future financial coverage decisions, the Governing Council “will follow a data-driven approach whereby decisions are taken on a case-by-case basis at each meeting.”