The European Central Bank (ECB) decided to leave its key policy rates unchanged at its regular Governing Council meeting held on the 29th, marking the first pause since the July meeting, two meetings ago. The Deposit Facility Rate — the rate at which commercial banks deposit funds with the ECB — was maintained at 2.50%, while the main policy rate at which banks borrow from the ECB was held at 2.65%. The move makes clear the ECB's stance of confirming how the additional rate hike implemented at the previous meeting in September affects prices and the economy. Behind the decision to hold rates is the fact that Eurozone inflation is being driven disproportionately by energy prices.
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