ECB Holds All Three Benchmark Rates at 2.25% Deposit Rate on July 23

According to its official statement, the European Central Bank held all three key policy rates unchanged on July 23, following a 25 basis point increase across all rates in June. The deposit rate remains at 2.25%, the main refinancing rate at 2.40%, and the marginal lending rate at 2.65%. The ECB cited high uncertainty regarding energy price forecasts and the delayed full impact of energy shocks on inflation as reasons for maintaining its current stance, while committing to closely monitor economic and financial data developments.
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