European Central Bank Announces Interest Rate Decision

The European Central Bank has decided to keep its policy rate unchanged in line with market expectations. The bank highlighted the high uncertainty environment due to energy prices and emphasized that monetary policy will continue to be data-driven and meeting-based. In its statement, the ECB announced that it would keep the refinancing rate at 2.40%, the deposit rate at 2.25%, and the marginal lending rate at 2.65%.The volatility in energy prices remains high, and the Governing Council is closely monitoring the effects of the energy shock from the war. Monetary policy will be determined appropriately to ensure that inflation stabilizes at the target in the medium term. The Governing Council is ready to take policy steps in the face of uncertainty from the conflict and interest rate decisions will continue to be made based on economic data.