ECB keeps rates on hold as expected

(Sharecast News) - The European Central Bank kept interest rates on hold on Thursday at 2%, as widely expected. It noted that inflation remains close to its 2% medium-term target and said the Governing Council's assessment of the inflation outlook was broadly unchanged.

"The economy has continued to grow despite the challenging global environment," the ECB said.

"The robust labour market, solid private sector balance sheets and the Governing Council's past interest rate cuts remain important sources of resilience. However, the outlook is still uncertain, owing particularly to ongoing global trade disputes and geopolitical tensions."

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