The European Central Bank left its key interest rate unchanged for the fourth policy session in a row and raised the growth forecasts for the euro area citing support from domestic demand, but the bank also lifted the inflation projection for next year as policymakers expect services inflation to ease more slowly than expected earlier. The Governing Council, led by ECB President Christine Lagarde, decided to hold the benchmark interest rate - the deposit rate, steady at 2 percent on Thursday. The refinancing rate was left unchanged at 2.15 percent and the marginal lending rate at 2.40 percent. The decision was in line with economists' expectations.
Previously, the Eurozone interest rates were revised in June, when they were lowered by a quarter basis point. The bank had trimmed interest rates by the same volume in every rate-setting session since September last year.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.