The European Central Bank left its key interest rates unchanged on Thursday, as expected, after raising them in the past 10 sessions, but adopted a cautious stance to suggest that rates could stay "higher for longer" despite the easing inflationary pressures as signs of a recession in the euro area economy increase. The Governing Council, led by ECB President Christine Lagarde, left the main refinancing rate, or refi, at 4.50 percent at the rate-setting session in Athens, Greece.
The deposit facility rate was held at a record high 4.00 percent and the lending rate was kept at 4.75 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.