Post by European Central Bank

Today we kept our key interest rates unchanged. The war in the Middle East is weighing on the economy. Inflation has gone up, and we expect it to stay higher for a while. This is mainly because energy has become much more expensive. Up to now, the prices of food, goods and services have not risen much. We will keep a close eye on how higher energy costs spread to other prices. Overall, we are well positioned to cope with the uncertainty created by the war. 🤔 Want to learn more about our decisions? Check out our monetary policy statement at a glance – link in the comments!