The euro interest rate will remain at zero percent

The ECB does not touch the record low interest rate, while the bank weighs the record high inflation in the eurozone against the poorer economic outlook as a result of the war in Ukraine. It was expected that the bank would not change the interest rate on Thursday.

Instead, the bank announces that the first interest rate increase will come “some time after” the support purchase scheme is phased out, which according to the plan will take place in the third quarter. The bank began buying bonds to stimulate the economy when the pandemic led to a sharp economic slowdown.

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