The European Central Bank held its main interest rate at a record low of 0.75 percent on Thursday, holding fire after a pick-up in inflation last month offset pressure to breathe life into the flagging euro zone economy by easing borrowing costs.
Annual euro zone inflation accelerated to 2.6 percent in August from 2.4 percent in July, coming in stronger than expected and further above the ECB's target of just below 2 percent.
The ECB also left the interest rate on its deposit facility at 0.0 percent - a low it went to for the first time in July to encourage banks to lend overnight to other banks, where they receive a higher rate, currently about 0.1 percent.
The ECB held its marginal lending facility - or emergency borrowing rate - at 1.50 percent.
(Writing by Paul Carrel)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app