The European Central Bank has met expectations by holding interest rates steady for the third meeting in a row, but policymakers gave no hints of cuts ahead despite market pressures.
After hiking its deposit rate to 4% in September, the governing council said future monetary policy decisions will ensure that its policy rates are set at "sufficiently restrictive levels for as long as necessary". "The governing council is determined to ensure that inflation returns to its 2% medium-term target in a timely manner," it said. "Based on its current assessment, the governing council considers that the key ECB interest rates are at levels that, maintained for a sufficiently long duration, will make a substantial contribution to this goal." ECB approaches end of hiking...
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