By Gokhan Ergocun
ISTANBUL (AA) - The European Central Bank on Thursday kept its policy interest rate constant at 4.5%, the first time it has done so since January 2022, in line with market expectations.
The bank gradually increased the rate from 0% to 4.5% from January 2022 to September 2023 to fight ongoing high inflation.
It stressed: "The incoming information has broadly confirmed its previous assessment of the medium-term inflation outlook.
"Inflation is still expected to stay too high for too long, and domestic price pressures remain strong."
The bank added that its future decisions will ensure that its policy interest rates will be set at sufficiently restrictive levels for as long as necessary.