"The ECB kept its key deposit rate at 2% despite annual price growth rising to 2.2% across the 20-member euro bloc in September, up from 2% in August and 1.7% a year earlier. In the 27-member EU, annual inflation was 2.6% in September, up from 2.4% in August, according to Eurostat. The ECB said its 26-member governing council's view of inflation was broadly unchanged."
"She said: The EU-US trade deal reached over the summer, the recently announced ceasefire in the Middle East and today's announcement of progress in the US-China trade negotiations have mitigated some of the downside risks to economic growth. At the same time, the still-volatile global trade environment could disrupt supply chains, further dampen exports, and weigh on consumption and investment."
The ECB held its key deposit rate at 2% for a third consecutive meeting despite rising inflation across the eurozone. Annual inflation in the 20-member euro area rose to 2.2% in September, while EU-wide inflation reached 2.6%. The governing council judged its inflation outlook broadly unchanged, citing a robust labour market, solid private sector balance sheets and previous rate cuts as sources of resilience. Lagarde said the rate decision was unanimous and that recent geopolitical and trade developments had reduced some downside growth risks, while volatile global trade still posed supply-chain and export risks. Preliminary data showed eurozone GDP grew 0.2% in Q3.
Read at www.theguardian.com
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