The European Central Bank held its main refinancing operations interest rate at 1.00%, the marginal lending facility at 1.75% and the deposit facility at 0.25%. The ECB noted that "current key ECB interest rates still remain appropriate" but that the ECB continues "to see evidence of short-term upward pressure on overall inflation, mainly owing to energy and commodity prices". The EU recorded inflation of 2.5% in January, versus the ECB target inflation rate of 2.0%.
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