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European Central Bank Keeps Interest Rates Steady as Economy Stalls

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The central bank broke an unprecedented streak of interest-rate increases as the eurozone economy hovers on the brink of contraction.

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FRANKFURT—The European Central Bank held interest rates steady, ending a historic run of 10 consecutive rate increases as Europe’s currency union teeters on the brink of recession and uncertainty around the global economy rises. The ECB said Thursday that it would hold its deposit rate at 4%, a record high for the institution created in 1998. Officials signaled that they might not need to raise rates further, repeating language first used at their last policy statement in September.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.

 

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