ECB leaves interest rates unchanged

Projected growth for 2025 has been revised up

The decision means the ECB’s deposit facility, used by banks to make overnight deposits with the Eurosystem, remains at 2%.

The European Central Bank has left interest rates across the eurozone unchanged, at its latest policy meeting.

Announcing the decision, the ECB said "Inflation is currently at around the 2% medium-term target and the Governing Council’s assessment of the inflation outlook is broadly unchanged."

The decision means the ECB’s deposit facility, used by banks to make overnight deposits with the Eurosystem, remains at 2%.

The ECB has also raised its forecast for eurozone growth this year, but tempered this by slightly cutting its 2026 forecast.

"The economy is projected to grow by 1.2% in 2025, revised up from the 0.9% expected in June. The growth projection for 2026 is now slightly lower, at 1.0%, while the projection for 2027 is unchanged at 1.3%."