ECB Holds Rates Steady as Inflation Hits Target, Economy Shows Resilience

The European Central Bank (ECB) kept interest rates on hold on July 24, pausing its year-long easing cycle as inflation settled at its 2 percent target and signs of resilience emerged in the euro area economy.

The deposit rate stayed at 2 percent, the main refinancing rate at 2.15 percent, and the marginal lending rate at 2.4 percent, the eurozone’s central bank said in a statement following its policy meeting.