The headquarters of the European Central Bank (ECB), in Frankfurt, Germany. The European Central Bank (ECB) held interest rates steady for a fifth straight meeting on Thursday despite ongoing geopolitical tensions and a marked strengthening of the euro which may be cooling inflation faster than expected. Photograph: Alex Kraus/BloombergThe European Central Bank (ECB) held interest rates steady for a fifth straight meeting on Thursday despite ongoing geopolitical tensions and a marked strengthening of the euro which may be cooling inflation faster than expected. Listen | 31:16There is also a risk it could pull inflation further below the 2 per cent target rate. Markets expect the ECB to keep interest rates on hold for now, the strength of the euro muddies the waters somewhat.

Source: The Irish Times February 05, 2026 14:46 UTC