The eurozone economy is stagnating, price growth is slowing and high borrowing costs are squeezing demand for loans, yet the European Central Bank is expected to say this week it needs more time to be sure inflation has been tamed.
The ECB’s governing council is set to meet on Thursday as eurozone inflation has fallen from a peak of 10.6 per cent in late 2022 to 2.9 per cent last month. The bank’s target rate is 2 per cent.
However, bank-watchers believe the ECB, led by president Christine Lagarde, will still leave monetary policy on hold — with the deposit rate at a record high of 4 per cent and its vast bond portfolio slowly shrinking.
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