ECB holds interest rates for first time in over a yearBloombergThe European Central Bank (ECB) left interest rates unchanged for the first time in more than a year as it gauges whether an unprecedented series of hikes will succeed in subduing inflation. European Central Bank president Christine Lagarde speaks at a rates decision news conference in Athens, Greece yesterday. Italian bonds, which have been a major beneficiary of ECB debt-buying programs, outperformed as Lagarde said changes to the 1.7 trillion euro (US$1.8 trillion) pandemic-era Public Sector Purchase Program (PEPP) initiative weren’t discussed this week. ECB officials aren’t offering many clues, with several focusing instead on other policy levers like PEPP. On Wednesday, the Bank of Canada kept rates unchanged for a second straight time, while leaving open the possibility of more tightening.

Source: Taipei Times October 26, 2023 17:19 UTC