ECB keeps key interest rates on hold at first meeting of the year

The European Central Bank (ECB) kept its key eurozone interest rates unchanged at its first monetary policy meeting of the year on Thursday. There is a "consensus" on ECB's Governing Council that it is "premature to discuss rate cuts," said bank President Christine Lagarde after the rate announcement. At the World Economic Forum in Davos this month Lagarde had suggested that an interest rate cut this summer was more likely. The main refinancing operations rate, which provides liquidity to the ba

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