ECB holds rates as Lagarde expresses optimism

Several observers think rate cut before June is more likely as ECB says policy is working

The European Central Bank

The European Central Bank (ECB) held its policy rates today (January 25), saying that its tighter policy was successfully “dampening demand”. 

The ECB governing council said eurozone inflation was still following “a declining trend” and that past rate increases “keep being transmitted forcefully into financing conditions”. It kept the deposit facility rate, its key tool, at 4%, and maintained the marginal lending rate at 4.75% and the main refinancing rate at 4.5%. 

Some observers speculated that

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