European Central Bank holds rates
Updated forecast includes higher inflation and growth figures
The European Central Bank has held rates at its governing council’s final meeting of 2025.
At the press conference announcing the decision, ECB president Christine Lagarde said its new outlook projected a slower decline in services inflation over 2026 and 2027 than the bank had previously forecast.
ECB staff revised the bank’s annual inflation outlook to 2.1% in 2025, 1.9% in 2026, 1.8% in 2027 and 2% in 2028. For inflation excluding energy and food, the figures were 2.4% for 2025, 2.2% for 2026
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