The European Central Bank kept its three key interest rates unchanged and suspended interest rate increases for the first time since July 2022.

European Central Bank kept its main refinancing rate unchanged at 4.50%, its deposit facility rate unchanged at 4.00%, and its marginal lending rate unchanged at 4.75%. This is the first time since July 2022 that the ECB has paused its rate hikes, after previously raising rates by a total of 450 basis points.