ECB Governing Council expected to leave rates unchanged

📆 10/26/2023 4:19 AM
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The Governing Council of the European Central Bank meets in Athens today where it's widely expected to leave interest rates on hold for the first time since last summer.

The Governing Council of the European Central Bank meets in Athens today where it's widely expected to leave interest rates on hold for the first time since last summer.The ECB has raised interest rates ten times since July of last year in an effort to bring inflation under control.

Its base deposit rate is currently 4%. Many economists believe rates will stay at this level well into next year.Inflation in Ireland went up slightly in September.Meanwhile, higher rates have slowed the pace of economic activity.Despite all this, employment levels across the euro area remain high.

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