Economic Buzz: ECB keeps interest rates unchanged

The European Central Bank has kept its key interest rate unchanged today. The bank held its rate on the so-called deposit facility at 2%, which is the interest rate banks receive when they deposit money with the central bank overnight. The rate has hovered at the current level which is its lowest level in more than two years, since June ? when the central bank cut by 25 basis points. The ECB cut its key interest rate eight times in total since June 2024, bringing it down from a record high of 4%. ECB kept other two rates for main refinancing operations and marginal lending facility unchanged at 2.15% and 2.40%, respectively.

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