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Europe's central bank halts rate hikes as war in the Middle East casts a shadow over the economy

IndiaTimes Thursday, 26 October 2023
The European Central Bank (ECB) has left interest rates unchanged for the first time in over a year amidst concerns over the Israel-Hamas war and the weakening European economy. The ECB's decision comes after a series of rate increases over the past year, which pushed its key rate to a record-high of 4%. Inflation in Europe has eased, but high prices have negatively impacted consumer spending. Worries about economic growth and the possibility of a recession are increasing. The ECB is taking a pause to assess the impact of previous rate hikes and monitor developments in the oil price.
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Video Credit: euronews (in English) - Published
News video: Europe's central bank halts rate hikes as Israel-Hamas war casts a shadow over the economy

Europe's central bank halts rate hikes as Israel-Hamas war casts a shadow over the economy 01:00

 The European Central Bank left its rates unchanged on Thursday, marking a pause in its restrictive monetary policy after 10 increases since July 2022.

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