Europe's central bank halts rate hikes as Israel-Hamas war casts a shadow over the economy

euronews (in English)

The European Central Bank left its rates unchanged on Thursday, marking a pause in its restrictive monetary policy after 10 increases since July 2022.

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00:00 The European Central Bank is leaving interest rates unchanged for the first time in more

00:06 than a year, as the Israel-Hamas war cast a shadow over Europe's economy.

00:13 The bank's credit and deposit facilities haven't moved either.

00:19 The governing council today decided to keep the three key ECB interest rates unchanged.

00:26 The incoming information has broadly confirmed our previous assessment of the medium-term

00:32 inflation outlook.

00:34 Inflation is still expected to stay too high for too long and domestic price pressures

00:39 remain strong.

00:41 The key rate in the eurozone will remain at 4%, a record high.

00:46 After 10 consecutive hikes that began in 2022, Lagarde stressed that she could not guarantee

00:51 this will be the bank's peak rate.

00:54 Warning, could rise again depending on inflation.

00:57 [SWOOSH]

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