Relief for mortgage holders as ECB leaves interest rates unchanged

Lender has decided to hold interest rates after a historic streak of hikes

Christine Lagarde, ECB president. Picture: Getty

The European Central Bank (ECB) has decided not to raise interest rates at a meeting in Athens, breaking the longest streak of interest rate hikes in its history.

Since July 2022, the ECB has made ten-successive moves to raise interest rates in a bid to control inflation.

The body has now confirmed that the rate will not be increased this month.

"The Governing Council's past interest rate increases continue to be transmitted forcefully into financing ...