Economy
ECB holds interest rates above 4% despite improved inflationary outlook
March meeting marked the fourth time the lender has rates after a marathon stream of interest increases
The European Central Bank left interest rates unchanged for a fourth meeting as a softer outlook for inflation and economic growth fed expectations for cuts to begin in June.
The deposit rate was kept at a record 4 per cent, while lending rates remain at 4.75 per cent.
The bank’s governing council reiterated that maintaining this level of borrowing costs for “sufficiently long” will make a “substantial contribution” to returning consumer-price growth to the 2 ...
